FRCS-construction industry partnership to improve compliance
16 June, 2018, 7:00 pm
A PARTNERSHIP approach between the local construction industry and the Fiji Revenue and Customs Service (FRCS) is expected to improve tax compliance.
This was the basis of FRCS deputy director revenue and customs division Jonetani Vuto’s presentation earlier this morning at the Construction Industry Council (CIC) conference at the Warwick Fiji Resort along the Coral Coast.
With more than 4289 registered construction taxpayers, Mr Vuto highlighted a decline in tax compliance from the industry last year, particularly with income tax and VAT.
In 2017, only 7 per cent or $114 million in taxes paid to FRCS came from the construction industry.
And with only 52 per cent of businesses paying taxes in Fiji, FRCS also explored an industry partnership approach for the construction industry to better understand industry tax concessions.