October 19, 2012

FRCA will concentrate on audits

13:02 Today (October 17, 2012)
Report by: Ritika Pratap

From January, the Fiji Revenue and Customs Authority will be concentrating heavily on audits.

This will include companies or businesses all over Fiji.

Chief Executive Jitoko TIkolevu says this will give them a better understanding of all tax payers.

“This is a profile – audits are not just done for the sake of doing audits. It is subject to doing profiles on tax payers – the nature of activities of each sector – like a trend of how we calculate profit for tax purposes.”

Tikolevu says this will give FRCA a better idea of where to focus their efforts in trying to catch tax evaders.

“Once that is done – we actually zero it down to the sectors – like accountants, lawyers, manufactures, housing, real estate and hotels. These are whom we target in terms of doing averaging for analysis. So that has to go through profiling and all that is part of the process to determine which area or sector needs to be prioritized for auditing purposes.”

Even now, some big companies are being investigated for alleged tax evasion.

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