SUNBIZ

Company Fined $5000 For Non- Lodgement Of Tax Returns

A company in Nausori has been fined $5000 by the Suva Magistrates Court for failing to lodge its Income Tax Returns. The spare part company which did not file its
17 Feb 2016 12:20
Company Fined $5000 For Non- Lodgement Of Tax Returns
Fined

A company in Nausori has been fined $5000 by the Suva Magistrates Court for failing to lodge its Income Tax Returns. The spare part company which did not file its income tax returns from 2009 to 2013 was facing four counts of failing to file tax returns contrary to section 49(1) of the Tax Administration Decree No.50 of 2009.

Fiji Revenue and Customs acting chief executive, Visvanath Das, said: “This judgment should serve as a deterrent to all those taxpayers who are not lodging their returns to evade paying taxes.

“We have embarked on strict monitoring of all defaulters who undermine FRCA tax and customs revenue collections.

“Recent crackdown on some major business sectors has revealed major non-lodgement of VAT and Income Tax returns.

“These are tax payable return which means substantial tax revenue losses to Government by these unscrupulous traders.

“Some taxpayers only lodge returns to claim refunds particularly for VAT and so we have implemented a strategy that no VAT refunds will be released if taxpayers have outstanding lodgements for any of the tax type applicable to their businesses.”

Mr Das said Tax Compliance is a shared responsibility for Taxpayers and Tax Office.

“If you have a problem, consult FRCA and we will assist you to comply with your filing and payment obligations,” he said.

“Given the hefty fines and penalty charges, it is only sensible to lodge all your returns on time and pay your fair share of taxes.Businesses and individual taxpayers should stop stealing from the government coffers.”

 



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