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Acting PM Reminds Executives Importance Of Honesty In Tax

Acting PM Reminds Executives  Importance Of Honesty In Tax
The Acting Prime Minister, Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum, with particpants at the CPA Australia-Fiji Branch Congress at Shangri-La’s Fijian Resort and Spa, Yanuca Island on September 15, 2017. Photo: DEPTFO News
September 16
09:52 2017

Acting Prime Minister, Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum has reminded accountants and business leaders of the importance of their work. And of honesty in taxes.

Speaking at the CPA Australia-Fiji Branch Congress yesterday, he said it was important for them to adhere to the laws.

Mr Sayed-Khaiyum highlighted the leakage in Fiji’s revenue as too many were not paying their proper taxes.

He said that the two bills had been approved in Parliament that amended existing laws:

Name and Shame which empowers Fiji Revenue and Customs Services (FRCS) to name the companies that have a gross turnover of $1.5 million or more and are avoiding paying the taxes they should.

For tax agents or customs agents where there is any error in the submission of any documents, or any information requires by the service, their names can be published by Fiji Revenue and Custom Services

Mr Sayed-Khaiyum said that the penalties had been increased and there were measures put in place.

Pay, prosecute

The pay-penalty-and-cannot-be-prosecuted system does not apply anymore, now it can be both, pay and prosecute, he said.

He added that these were the amendments and it had come to a point that Government has had to apply the new laws like other countries are doing.

“We need to be complying with the laws of the country,” he said.

The Fijian Government was providing an enabling environment for businesses to grow and for individuals to excel.

There is a great focus into the future, he said.

Edited by Ranoba Baoa

Feedback:  selita.bolanavanua@fijisun.com.fj

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