Fiji company voluntarily discloses taxes; Taxman commends honesty
10 January, 2020, 1:18 pm
THE Fiji Revenue and Customs Service (FRCS) has commended Aquaheat South Pacific Limited for voluntarily disclosing and notifying the tax office of more than $525,506 in taxes they had overlooked for the period between April 2016 to March 2019.
Aquaheat South Pacific Limited had in December last year made a voluntary disclosure in respect of payments of withholding taxes amounting to $350, 951.16, and VAT reverse charge of $175,411.78 on management fees and interest expense.
“In today’s environment, corporate responsibility is a business imperative,” Aquaheat’s General Manager South Pacific Mr Anusheel Chandra said.
“As corporate citizenship professionals, we create both business and social value in countless ways, from establishing innovative community involvement partnerships to engaging with stakeholders to assess environmental, social, and governance impacts and opportunities.
“This paves the way for corporates and businesses to engage in meaningful ways with FRCS and treat them as partners rather than adversaries.”
FRCS chief executive officer Visvanath Das commended the management of Aquaheat South Pacific Limited saying it is this kind of gesture and honesty they want to build relationships on with the country’s tax citizens.
“This is the beginning of a new relationship that we want to build on to be the model corporate taxpayer and tax office partnership in our journey to modernisation of the Fijian tax office,” Mr Das said.
Aquaheat South Pacific Limited delivers specialist building services throughout Fiji, and are known as one of the country’s leading air conditioning/mechanical contractors.