Illegal forestry activities and its subsequent contribution to the black economy in Fiji is in the spotlight as concerns continue to to be raised regarding some people logging in certain areas with no records of these activities and income derived from it.
While signing a Memorandum of Agreement with the Ministry of Forestry, Acting CEO of the Fiji Revenue and Customs Service Fane Vave says only 24% of logging companies that are registered with the taxpayers office had filed for income tax returns last year while 43% had filed for VAT return.
This agreement will enable the two parties to clamp down on the illegal activities and its subsequent contribution to the black economy.
She says last year $2.6 million was collected from various taxes from the 444 taxpayers registered with the taxpayers office.
Vave further says FRCS has much work to do to help the industry better understand their responsibility with the development of targeted compliance strategies.
Meanwhile the Permanent Secretary for Forestry, Pene Baleinabuli says the intention is to share information about companies that are operating within the forestry sector.
Baleinabuli says government as a whole is focused on growing the economy and part of it is their ability to accurately capture the flow of revenue that also includes the payment of taxes.
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