The Fiji Revenue and Customs Authority Board has approved a payment of $250,000 to a whistleblower whose information led to the successful recovery of some $8 million in taxes and penalties from a company in the Western Division.
This is the highest reward so far for any whistleblower.
The case involved a company engaged in the motor vehicle industry manipulating its sales record and under declaring for VAT and Income taxation.
Following the information provided by the whistleblower, FRCA carried out detailed investigation with the sales reported in the company’s tax returns and bank account where major discrepancies were noted.
FRCA’s Chief Executive Officer Visvanath Das says the audit also revealed that the Director of this company has other businesses and investment properties which were all under reported.
He says non‑compliant taxpayers will face the full brunt of the law.
Das adds the 2017/2018 National Budget has seen amendments to the penalty regime and all the penalties in relation to Tax Evasion has increased together with the imprisonment term which is now 10 years.
He says FRCA is determined to prosecute all those taxpayers who are evading taxes.
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