A company is under investigation by the Fiji Revenue and Customs Authority for under‑declaring their sales by more than $16.5 million to evade VAT and Income Tax derived through these sales.
FRCA says that it has been established that the company was under‑declaring its sales for the past three years.
The Authority says this means the government has lost out on the subsequent VAT and Income Taxes that was supposed to be paid correctly and on time.
FRCA Chief Executive Officer Visvanath Das says some other businesses are also being investigated for similar offences.
Das says they continue to receive complaints from law‑abiding taxpayers about these dodgy traders on a daily basis.
Under the Tax Administration Decree, the maximum penalty for this type of offence is 300% of the total taxes due.
Das says FRCA will come down hard on companies who are evading duties and taxes.
He says they continue to discover serious non‑compliance behavior in terms of the non‑lodgement of VAT returns and due payments.
FRCA says taxpayers are strongly reminded that VAT is trust money and must be paid to Government on time.
No penalty remission will be granted to such non‑compliance behaviour.
A number of complaints have also been received where un‑registered tax agents have been engaged to lodge returns.
