The Fiji Revenue and Customs Service (FRCS) is ushering in a new era of transparency with the launch of a public dashboard for its Value Added Tax (VAT) Monitoring System. Developed in partnership with Data Tech International, the initiative aims to foster transparency and fair competition by providing daily compliance updates. The dashboard allows the public to monitor fiscalized taxpayers, business locations, tax elements, and sales data, as well as verify invoices and receipts.
FRCS CEO Udit Singh emphasized the agency’s dedication to creating an equitable business environment, encouraging companies to align with this new system. With the ability to report potential fraud and flag suspicious transactions, the public can play a proactive role in ensuring compliance.
This initiative aligns with FRCS’s broader goals, building on prior measures like the enforcement of Electronic Fiscal Devices (EFD) across various sectors. By the end of September, sectors such as architecture, engineering, real estate, and service stations are required to integrate these systems, marking a pivotal expansion stage.
Data Tech International’s CEO, Goran Todorov, highlighted the dashboard’s user-friendly interface, which facilitates mobile access to data, thereby promoting widespread use among Fijians. With rapid reporting and data filtering tools, this platform is set to enhance public trust in the tax system.
The rollout is part of a comprehensive strategy by FRCS to include more businesses in VAT monitoring. Past initiatives have aimed to incorporate smaller enterprises by lowering thresholds and offering cost-effective technology, thereby advancing a digital economic framework.
By addressing challenges faced by small and medium enterprises (SMEs), including system upgrades and compliance costs, FRCS is striving for smoother transitions through collaborative solutions. This reflects a strong commitment to fostering a supportive and resilient business environment that strengthens public trust in a just economic system.
Overall, FRCS’s reforms signify a forward-thinking approach to tax compliance. By enhancing transparency and adopting digital solutions, Fiji strengthens its economic resilience and growth, laying the groundwork for a thriving business landscape governed by transparency and fairness.