The Fiji Revenue and Customs Service (FRCS) has made a progressive leap with the introduction of a public dashboard for their Value Added Tax (VAT) Monitoring System. This new platform, a collaboration with Data Tech International, is designed to enhance transparency and promote fair competition by providing daily updates on compliance metrics. The dashboard enables the public to monitor fiscalized taxpayers, business locations, tax elements, sales data, and to verify the issuance of invoices and receipts.
Aimed at bolstering transparency and compliance, the dashboard allows users to report potential fraud, flag suspicious transactions, and verify invoices. As part of this modernization effort, FRCS Chief Executive Officer Udit Singh emphasized the agency’s commitment to creating a level playing field for businesses, urging them to comply with the new system’s regulations.
The VAT Monitoring System extension aligns with the FRCS’s broader goals, as evidenced by previous initiatives enforcing the use of Electronic Fiscal Devices (EFD) across various sectors. Upcoming sectors, including architecture, engineering, real estate, and service stations, must integrate these systems by the end of September, marking a critical phase in the system’s expansion.
Data Tech International CEO Goran Todorov highlighted the system’s user-friendly design, which supports swift data access through mobile devices, encouraging wide usage among the Fijian populace. With tools that facilitate rapid reporting and data filtering, the dashboard represents a significant leap towards strengthening public confidence in the tax system.
This latest rollout is part of a larger strategy by FRCS to bring more businesses under efficient VAT monitoring, an effort echoed in similar initiatives across different sectors. Previous reports noted proactive measures to incorporate smaller enterprises through reduced thresholds and affordable technology solutions, supporting a digital economic framework.
By addressing historical challenges faced by small and medium enterprises (SMEs), such as system upgrades and compliance costs, FRCS aims to offer smoother transitions via collaborative solutions. These measures reflect a broader commitment to fostering an inclusive and resilient business environment, thereby reinforcing public trust in a fair economic system.
Overall, FRCS’s ongoing reforms represent a forward-looking approach to tax compliance. By enhancing transparency and embracing digital solutions, Fiji is positioning itself for economic resilience and growth, paving the way for a future where businesses thrive in a transparent and equitable marketplace.