07:32 Today (June 26, 2013)
Taken from/By: FBC News
Report by: Christopher Chand
The Fiji Revenue and Customs Authority (FRCA) has announced a 12 month tax clearance blanket for businesses.
FRCA CEO Jitoko Tikolevu says businesses have to pay their taxes every month but they will be giving certain companies the privilege of paying taxes once a year.
Tikolevu says this will be offered to their gold card members, banks, hotel villa owners, insurance companies and superannuation payments will be given a tax clearance for 12 months.
“They only appear once in 12 months it helps them (businesses) but this is done in good faith there is a lot of goodwill there. We hope there will be no abuse but if some tax payers abuse the system then we will take their names and cross it off.”
FRCA is also investing close to $20,000 to install new software which will help automate the Tourist Vat Refund Scheme.
Tikolevu says this process will no longer be manually done from next month.
He says it will also help fight fraudulent claims coming out of the scheme.
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