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Customs Service Records Revenue Growth

Customs Service Records Revenue Growth
Fiji Revenue and Customs Service chief executive officer Visvanath Das
May 02
10:11 2018

 

The Fiji Revenue and Customs Service (FRCS) recorded a 6.6 per cent growth in its revenue collection in the 2016/17 financial year, it was revealed yesterday.

FRCS chief executive officer Visvanath Das attributed the growth to the implementation of “numerous policy and administrative reforms.”

Mr Das was presenting FRCS’s 2016/17 financial report to the Standing Committee on Economic Affairs yesterday in Suva.

He said the FRCS’s financial position had improved due to increased economic activity, compliance, better debt management and higher revenue collection.

Mr Das said the body was also working to implement a new tax system that mirrors the central invoicing system being used in South Korea.

Answering a question from committee member and Government MP Alvick Maharaj on the importance of technology, Mr Das said it was the way forward.

Citing World Bank analysis, Mr Das said one third of Fiji’s economy was still ‘black.’ Black money is used to reference illegal and undeclared income.

One of the key goals of FRCS is to introduce a tax-paying culture in Fiji.

When asked by committee member and opposition MP Viliame Gavoka where Fiji was positioned in achieving that goal, Mr Das said he had seen improvements but that it was an ongoing process.

In his presentation, Mr Das outlined four main areas in FRCS’s administration that are undergoing reform.

They include: the implementation of a new tax information system, a Value Added Tax (VAT) monitoring system, a focus on compliance activities and law reforms.

Feedback:  sheldon.chanel@fijisun.com.fj

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