FRCS recovers tax from three Companies under Whistleblower Policy
24th February, 2016
The Fiji Revenue and Customs Service (FRCS) investigated three more Companies under the Whistleblower Policy resulting in a tax collection of more than $1.9 million (inclusive of penalties). “The Authority during its investigation determined that the three Companies were from the Real Estate, Transport and Media industry. It was identified that the respective companies were involved in tax planning to minimize its tax burden, also falsifying Value Added Tax (VAT) claims on its purchases and simultaneously under stating sales in addition to over stating purchases,” FRCS Chief Executive Officer, Mr. Visvanath Das revealed.
“We received relevant information from three Whistleblowers and based on our due diligence process and Whistleblower reward matrix, FRCS awarded more than $56,000 in total to the respective informants,” Mr. Das said. FRCS reiterates the serious consequences of evading tax. “The increasing amount of tip-offs we receive from citizens regarding tax evasion is a positive trend, however, we are concerned on the amount of fraudulent activities that are occurring behind the scenes,” Mr. Das stressed.
“FRCS has been advising the public regarding hefty fines on infringements, yet business owners continue to cheat the system. The indirect result of evading tax is depriving the people of this country to a better standard of living,” he said. FRCS is urging taxpayers to voluntary comply with tax and customs laws to avoid the full brunt of the law. “We also encourage the public to come forward and provide relevant information of such tax offenders and we assure that FRCS will thoroughly investigate and go to great lengths in recovering the trust money,” he said.
A whistle blower that provides relevant information or documents to the Authority contributing significantly to the success of the investigation and prosecution by the Authority shall be entitled to up to 10 per cent of the net revenue recovered as a monetary reward.
We urge you all to report immediately any incident of tax or customs duty evasion. You can send details with documentary evidence to email@example.com.
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