The deadline for Fiji Hotel and Tourism Association members’ VAT Monitoring System compliance has been extended to April 30th 2020, and the association has welcome this decision.
The VAT Monitoring System has recently been introduced by the Fiji Revenue and Customs Service to help businesses automatically pay their VAT and had set 31st July this year for the industry to be fully operational.
Association CEO, Fantasha Lockington says given the unique complexities of the financial operating environment for tourism operators, the association sought clarification on compliance guidelines.
The Standard Interpretation Guidelines are currently under discussion.
Lockington says they commend Fiji Revenue and Customs Service for working with the association to understand members' business protocols and the need for the deadline extension. She says the members have already embarked on the initial registration and compliance process.
Lockington says this will be followed by the installation of the VAT Monitoring System with the required software and hardware changes, pending the confirmation of the guidelines.