July 30, 2024 3 min read Share:

FRCS Announces Appointment of New Board Directors

The Fiji Revenue and Customs Service (FRCS) has announced the appointment of two new members to its Board of Directors, Mr. Nitin Gandhi and Mr. Jitoko Tikolevu. Mr. Gandhi and Mr. Tikolevu have been appointed in accordance with Section 4 of the FRCS Act 1998 for 3 years effective from 16th July 2024.

FRCS’s Chief Executive Officer (CEO), Mr. Udit Singh welcomed the new Directors to the FRCS Board.

“The new Board of Directors have valuable expertise and perspectives that will help provide effective strategic direction and oversight to FRCS,” Mr Singh stated.

“Their diverse talent and expertise will enhance the strength and impact of our board and our ability to achieve our strategic objectives as we work towards being a world-class revenue service delivering excellence in revenue collection, border protection, trade and travel facilitation.”

Mr. Tikolevu was the former Fiji High Commissioner to the United Kingdom (UK) from 2016 to 2023. He was also the CEO of the Fiji Revenue and Customs Authority (now Fiji Revenue and Customs Service) from 2007 to 2015 and the Deputy Board Chair of the Fiji Development Bank (FDB) and the Investment Fiji until December 2015.

He has obtained a Bachelor of Arts (BA) degree in Business Studies from the University of the South Pacific (USP) and a Masters in Taxation degree from the University of Auckland.

“I am looking forward to contributing and working together with the current FRCS Board,” Mr. Tikolevu stated.

Mr. Gandhi is a Chartered Accountant and the former managing partner of PricewaterhouseCoopers (PwC). He is also a fellow of the Australia and the New Zealand Charted Accountants, former president of the Fiji Institute of Charted Accountants, an accredited mediator, former president of the Fiji Red Cross Society and a current member of the International Federation of Red Cross (IFRC) Audit and Risk Commission in Geneva.

He has over 38 years of experience providing professional services mainly in assurance, taxation and advisory to numerous businesses in Fiji and regional countries across multiple industries including tourism, aviation, energy, manufacturing, retail, agriculture and financial services.

While accepting the appointment of FRCS Board Director, Mr. Gandhi noted the challenges facing FRCS in its reforms and administrative systems.

“There is a need to embrace globalisation and digitalisation to ensure FRCS serves its customer base in the most efficient and fairest way. Modernising tax compliance and developing systems accordingly would be key to the economic development of the country,” he stated.

July 18, 2024 3 min read Share:

MSME Day Celebrations 2024

The Fiji Revenue and Customs Service (FRCS) celebrated its MSME Day this morning to recognize the Micro, Small and Medium Enterprises (MSME) that have successfully completed their training in tax compliance.

Speaking at the celebration, FRCS CEO, Mr. Udit Singh stated that FRCS has trained almost 3000 representatives from a diverse group of MSMEs in tax and customs processes and approximately 75% of those who have been trained have compiled and lodged their tax returns with FRCS. MSMEs hold great potential to contribute more revenue to Fiji’s economy. 

 

“It is evident that despite their size, MSMEs play a pivotal role in driving Fiji’s economic growth, creating employment opportunities and alleviating poverty. MSMEs hold great potential to transform economies and promote equitable economic growth if given adequate support. While we recognise the immense contribution made by the MSMEs towards Fiji’s economic growth and development, it is also important for us to acknowledge the challenges faced by the micro, small and medium enterprises,” Mr. Singh said.

 

There are approximately 116,800 MSMEs registered with FRCS, out of which 22,800 are paying taxes amounting to more than $59 million annually.

 

Through our trainings on basic tax, financial literacy and our Taxpayer Online Portal, we are empowering the FRCS MSME Community members with enhanced tax knowledge and making them become self-sufficient and independent.

 

Acknowledging the relationship and work between FRCS and MSME, Director Taxation, Ms. Momina Beg stated that this initiative will render a positive outcome.

 

“We firmly believe that providing relevant training and coaching will not only contribute to the growth and prosperity of the MSME sector but also foster a strong and mutually beneficial relationship between FRCS and its valued clients. We are highly optimistic about the positive impact this program will have on the MSME community and are fully committed to its success,” Ms. Beg said.

 

Embarking on another milestone, FRCS also took this opportunity to launch the MSME Guide which aims to provide a “Right from the Start” approach on a learning platform on bookkeeping and is free of charge. With the help of this guide, we strive to educate and encourage more MSMEs to learn about appropriate bookkeeping to achieve their financial goals.

 

FRCS will continue to nurture partnerships that empower the MSMEs to thrive, innovate and succeed.

 

The MSME guide can be accessed on this LINK.

July 15, 2024 3 min read Share:

FRCS at the Real Estate Agents Licensing Board Talanoa Sessions

FRCS was pleased to be invited by the Real Estate Agents Licensing Board (REALB) to its Talanoa sessions in Suva and Nadi.
Our Senior Manager, Taxpayer Education Mr. Vilimone Nailotei, informed the members of the REALB of their obligations and requirements under the tax laws.
Mr. Nailotei provided a comprehensive presentation to the real estate agents on business registration and tax obligations whereby he explained in detail the online registration process for the Taxpayer Identification Number (TIN) and applicable taxes, declaration of income, payment of taxes and record keeping.
A real estate agent who collects commercial or residential property rent for its client is required to submit an annual report that provides information of all rental income received by the real estate agent on behalf of its clients by 28th of February of every year. The rental annual report can be submitted on our Taxpayer Online Service (TPOS) with the following required information:
 TIN of Landlord (clients)
 Type of Property (either Commercial or Residential)
 Address of the Rental property
 Gross Rent (total annual rent)
 Net Rent (total rent after deduction e.g. real estate commission).
Further information on this can be accessed through our user guide – https://www.frcs.org.fj/…/FRCS_Rental-Annual-Report….
Mr. Nailotei also informed the attendees of the due dates for filing and payment of taxes and the importance of keeping their business records.
The talanoa sessions were very interactive where our team responded to all queries the real estate agents had on their required obligations.
July 12, 2024 2 min read Share:

Retirement celebration of K9 Beau

Officials from the Fiji Revenue and Customs Service (FRCS), the Fiji Police Force, the Pacific Detector Dog Program (PDDP) and the Australian Border Force (ABF) thanked K9 Beau for his service on his retirement from the Fiji Detector Dog Unit (FDDU).
 
They had organised a retirement dinner including cake and lovo to say goodbye to the 9-year-old Labrador.
 
K9 Beau had been with FDDU for the past seven years serving our community with pride and distinction. The Labrador has been described as an excellent performer and was involved in several major border and post-border detections. K9 Beau and Sergeant Timoci Belo graduated from Trentham’s Dog Training Centre facility in Wellington, New Zealand in 2017. He was transferred to Nadi in 2022 and was handled by Police Constable Neumi Waqanokonoko until his retirement.
 
Beau will now retire to be a full-time dog with Sergeant Belo.
We wish Beau a healthy and relaxing retirement and thank him for his services to Fiji.

July 2, 2024 3 min read Share:

FRCS Assists Thousands of MSMEs to Comply with their Tax Obligations

The Fiji Revenue and Customs Service (FRCS) is pleased to share that we have trained almost 3000 representatives from a diverse group of Micro, Small and Medium Enterprises (MSMEs) on tax and customs processes and financial literacy to assist them with ease of doing business and improve voluntary compliance.
FRCS is also excited to reveal that 75% of those trained have complied and lodged their tax returns with FRCS.
 
FRCS Chief Executive Officer, Mr. Udit Singh stated that MSMEs played a significant role in Fiji’s economy by contributing towards creating jobs, income generation and poverty alleviation.
 
“Recognising the immense contribution made by the MSMEs towards Fiji’s economic growth and development, FRCS has embarked on a dedicated financial literacy and tax education training program to assist MSMEs to become tax compliant,” Mr Singh said.
 
“The provision of tax training to MSMEs is critical as we realise that a lack of understanding of the tax system can contribute to non-compliance. Training can help MSMEs understand the importance of paying taxes, risks of not paying taxes and how to calculate taxes etc.”
 
There are approximately 116,800 MSMEs registered with FRCS, contributing almost FJD 59 million in taxes annually. FRCS has a dedicated Support Centre for MSMEs to assist them with their tax obligations through free advisory services, mentoring, training and support. According to Mr Singh, it is important to recognise that while the MSMEs may be running their businesses on a small scale now, they hold immense potential as our future taxpayers.
 
“As they embark on their entrepreneurial journey, FRCS will provide MSMEs with the necessary guidance and support to ensure their success,” Mr Singh said.
FRCS also plans to introduce training on bookkeeping as it has been seen that another determinant of tax compliance is the absence of financial reports. MSMEs either do not keep records or books of their business results or the financial reports are mixed with personal finances. Incorrect financial records lead to inaccuracies in tax calculation and payment.
 
Mr. Singh encouraged more MSMEs to take advantage of the free services and assistance provided by the FRCS. He also commended all the entrepreneurs and industrious individuals who are the backbone of the MSMEs and are making significant contributions to the Fijian economy.