Taxpayers who lodge their Pay As You Earn tax returns every year will no longer have to go through the return lodgment process from 2012 as the Fiji Islands Revenue and Customs Authority will start a Self Assessment Process.
FIRCA Chief Executive, Jitoko Tikolevu said the compulsory registration of the Tax Identification Number is part of the process and by 2012, the new system will kick in.
Tikolevu said this is a tax simplification process and will bring about efficiency in terms of cost and more focus on compliance and enforcement.
He said at the moment a lot of people are tied up with dealing with the manual tax returns and the new system will make things easier for FIRCA and the taxpayers.
He said from 2012, the onus will be on the employers to ensure that all the updated information about employees is submitted to FIRCA.
Tikolevu also assures taxpayers that they will receive their tax returns as normal and they will ensure that there are no hiccups when the new system starts in 2012.
Story by: Vijay Narayan
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