Supermarkets and Pharmacies will be the first to have cash registers linked to VAT Monitoring System

Supermarkets and pharmacies around the country are the two first segments within the retail sector that will have all their cash registers linked to a VAT Monitoring System which is directly linked to the Fiji Revenue and Customs Authority system.

While officially launching the VAT monitoring system and the FRCA Info Update Portal and My Say Customer Service Portal,

Acting Prime Minister and Minister for Economy, Aiyaz Sayed-Khaiyum says the supermarkets and pharmacies have to be fully compliant within the next 6 months.

Sayed-Khaiyum says the VMS software will be linked to the supermarkets cash registers and will provide a real time data to FRCA on total company sales and the amount of VAT collected.

My Say is an online Customer Service Portal that allows FRCA customers to access their services and the FRCA Info Update Portal is Web application hosted by FRCA for taxpayers that will allow them to update their personal and business information that exist on the database.

Sayed-Khaiyum says government is very keen in bringing about systems that create transparency.

He says there has been a delay in the implementation of the VAT monitoring system but assurances have come that everything will be in place by the end of this year.

Meanwhile the CEO of FRCA, Visvanath Das says the objective of the VAT monitoring system is not only to have efficient and reliable software, but to encourage tax compliance and at the same time collect revenue due to the government.