6 companies investigated for tax evasion amounting to more than $15M

6 companies investigated for tax evasion amounting to more than $15M

By Vijay Narayan and Iva Danford
25/05/2017

Six companies are being investigated by the Fiji Revenue and Customs Authority for alleged Tax and Customs Duty evasion amounting to more than $15 million.

FRCA Chief Executive Officer Visvanath Das says these six companies are allegedly undervaluing their goods to evade Customs Duties as well as understating their income to avoid Taxes.

Das says a number of companies are also allegedly involved in an invoicing scam.

He says three other companies that were under investigation for similar reasons have been investigated and slapped with a $25 million tax bill.

Das says these three companies who are major importers have since paid their taxes and penalties in full.

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The CEO says they have also noted in some cases these Fijian based companies set up business houses either in Australia or New Zealand and buy products and supplies for the business in Fiji, however upon further investigation it was established that the products and supplies are coming from China but the invoices are generated in either Australia or New Zealand.

Das says in such cases the value of invoice can be manipulated and understated to avoid duty and VAT at the border.

He says they have also established that for zero rated or 5 % duty rate items, the value of the goods are inflated when they are imported into Fiji as a way to siphon money of the country.

Das says these cases are examples of how non‑compliant taxpayers were dealt with under the law and should be a deterrent to those who think they can get away with beating the tax system.

He says these practices go a few years back and they will take every step to ensure that the companies are penalised.

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