EFD | VMS Update
Electronic Fiscal Device (EFD) / VAT Monitoring System (VMS) Update
Fiji Revenue and Customs Service (FRCS) wish to remind all supermarkets and pharmacies that in accordance with the Tax Administration (Electronic Fiscal Device) 2017 Regulations, they are required to install the Electronic Fiscal Devices (EFD) at their businesses by 31 December 2017. Other business sectors will need to follow the same obligation and these groups of business will be announced later in the year.
To ensure compliance from these two sectors, FRCS has provided an EFD test environment to developers and manufacturers of Point of Sale (POS) systems and Electronic Sales Data Controller (E-SDC) devices to test before final submission for accreditation to the Technical Committee.
In addition to this, the FRCS is also working closely with the two sectors and POS Vendors by facilitating awareness sessions from September 25th in the Central/Eastern, Western and Northern Division. This information can also be accessed on our website https://www.frcs.org.fj/vat-monitoring-system-vms/
“We are working closely with the supermarkets and pharmacies to ensure that they are compliant by the deadline,” FRCS Chief Executive Officer, Mr. Visvanath Das said.
FRCS is currently collecting best offers from suppliers of the smart cards to customize the secure element which will be issued to each company at the time of their enrollment, that is accreditation/activation of EFD in the supermarkets / pharmacies respectively. However, FRCS will consider every transaction issued through EFD as official from the December 31st deadline.
Companies have two options for the system – for those who opt to for the Internet independent system, they will have to have one secure element card per point of sale, while others who choose to have online POS system will need only one to authenticate themselves with FRCS.
According to Mr. Das, “this project is the first of its kind in Fiji and possibly the pacific, but is the norm in countries like Argentina, China, Brazil, Spain, Russia, Mexico and Turkey. Benefits of the system include reduced risk of theft from employees and most importantly create a level playing field for all taxpayers.”
A complete list of Frequently Asked Questions regarding this are available online
For queries please contact the Stakeholder Engagement /Public Relations Department on 3243031/ 3243259.