FRCS Reports Strong Financial Performance and Advances in Compliance Transformation
FRCS Executive Leadership Team (ELT) presented its 2023–2024 Annual Report to the Standing Committee on Economic Affairs, highlighting a year of significant achievement and strategic progress.
Chief Executive Officer, Mr. Udit Singh, described the 2023–2024 financial year as a milestone for FRCS, with the organisation delivering a record $3.1 billion in revenue, an exceptional growth of 35.8 percent. This marked the first time FRCS surpassed the $3 billion revenue benchmark, reflecting strong national economic recovery.
Mr. Singh noted that this performance was driven by a broad-based rebound in tourism consumption and trade, alongside a growing contribution from Value Added Tax (VAT), which accounted for approximately 44 percent of total revenue. He also emphasised FRCS’s continued shift toward data-driven compliance, supported by enhanced digital systems such as the Taxpayer Online Service (TPOS).
“These results demonstrate a strong rebound and an evolving revenue structure that reflects consumption-led growth,” Mr. Singh said. “They also highlight the importance of strengthening compliance systems and operational capabilities to sustain long-term performance.”
He acknowledged that the year also brought valuable insights into areas requiring further enhancement, including the management of refund liabilities, system capacity during digital transitions, and risks associated with informal sector activities and illicit trade. These insights have informed FRCS’s strategic priorities moving forward.
Mr. Singh informed the Committee that in the 2024–2025 fiscal year, FRCS has made targeted progress in addressing these areas. Revenue increased further to $3.48 billion, with growth moderating to a sustainable 12.3 percent. Strategic compliance initiatives have delivered measurable outcomes, including the identification of $45 million in tax liabilities, with approximately $30 million already collected.
The Tax Amnesty Programme also achieved strong results, generating $75 million in collections and facilitating the filing of over 40,000 tax returns. In parallel, FRCS has made substantial progress in reducing refund backlogs, stabilising digital systems, and strengthening both service delivery and enforcement capabilities.
“In summary, FRCS is transitioning from a recovery-driven phase to a more stable, compliance-led and digitally enabled revenue system,” Mr. Singh stated. “Our focus remains on building resilience and addressing structural risks identified during the 2023–2024 financial year.”
Mr. Singh highlighted that FRCS is making strategic investments in the development of a Single Window System, an integrated digital platform that will allow traders to submit all import, export, and regulatory documentation through a single entry point. This initiative is expected to streamline and standardise border processes, improve efficiency and turnaround times, strengthen inter-agency coordination, and reduce compliance costs for businesses. Importantly, it will enhance transparency and enable data-driven decision-making, significantly strengthening risk management capabilities to better detect and deter illicit trade. In the context of evolving border security challenges, this system will play a critical role in safeguarding Fiji’s borders while facilitating legitimate trade in a more secure and controlled environment.
He further noted that the implementation of the FRCS Yacht Management System has already improved the management of yacht arrivals and departures through a streamlined digital platform. The system simplifies clearance processes, enhances service delivery, and reduces administrative burdens for both officers and stakeholders. At the same time, it strengthens monitoring and compliance by providing greater visibility over vessel movements, thereby contributing to stronger border control, and supporting Fiji’s overall maritime security framework.
Deputy Chair of the Standing Committee on Economic Affairs, Ms. Premila Kumar, commended FRCS for its performance, noting the positive feedback received from customers regarding service improvements. Ms. Kumar highlighted the impact of TPOS in enhancing accessibility and convenience for taxpayers and praised FRCS as a benchmark for customer service across government agencies.
“We have started using FRCS as a benchmark when assessing improvements in customer service within government departments. This is a commendable achievement,” she said. She also congratulated FRCS on its role in supporting Fiji’s removal from the European Union (EU) blacklist, recognising this as a significant milestone for the nation.
Last Updated - May 21, 2026