February 23, 2018 2 min read Share:

VMS – Four Vendors on board and more in the process

Four vendors for Electronic Fiscal Device (EFD)/VAT Monitoring System (VMS) have been confirmed to supply the Fiji market after an accreditation process by the Fiji Revenue and Customs Service (FRCS).

The vendors are:

I Computer Solutions
Link Technologies
NEED ERP
Pacific IT Solutions

Their full contact and accreditation details are available on the FRCS website.

“As the deadline nears for supermarkets and pharmacies to install EFD/VMS device, we have officially identified four vendors this week that supply VMS compliant services,” FRCS Chief Executive officer, Mr. Visvanath Das revealed.

“We have negotiated with these vendors to ensure that there is minimum cost for compliance. More vendors will come on board once they complete the accreditation process which is currently being undertaken by FRCS,” he said.

Mr. Das stressed there is no extension to the deadline for implementation, however, FRCS will waive or defer penalty enforcement for those who have made an effort to comply by registering for VMS and collecting their smartcards with passwords. The accredited POS Suppliers have given their implementation plans as a majority of their clients have more than one outlet and many cash registers which need to become compliant and therefore FRCS will give due consideration for that.

“We are reasonable and understand the reality that it will take some time, but we want definite roll-out plans – 2 days, 7 days or 2 weeks – the Supermarkets and Pharmacies need to work closely with their POS/ESDC Vendor for this. We will only defer the enforcement of penalties subject to the registration and submission of implementation plans from the vendors” he said.

Mr. Das reiterated the deadline for supermarkets and pharmacies to comply is 28^th February, 2018. Medical centres, travel agencies, accounting firms, law firms and hardware companies (wholesale and retail) are required to install, implement and operate EFD/VMS on or before June 30, 2018.

“It is also mandatory for supermarkets and pharmacies to log onto the myInfo portal https://eservices.frca.org.fj/myInfor/Home/Index on the FRCS website and update their details by March 1^st, 2018. Other taxpayers are also urged to update their details,” he said.

FRCS in collaboration with VMS vendors, POS providers and consultants will continue to work closely with supermarkets and pharmacies through the accreditation process to ensure all are compliant by end of this month.

For further information or queries on VMS, you can email EFDCompliance@frcs.org.fj or log on to https://www.frcs.org.fj/our-services/vat-monitoring-system-vms/

END

For queries please contact the Stakeholder Engagement /Public Relations Department on 3243031/ 3243259.

February 19, 2018 3 min read Share:

No extension for EFD/ VMS implementation for now – FRCS

There will be no extension of timelines for the VAT Monitoring System (VMS) implementation by Supermarkets and pharmacies.

Fiji Revenue and Customs (FRCS) Chief Executive Officer, Mr. Visvanath Das advised this to supermarkets and pharmacies present at the VMS Awareness Forum held in Suva this week.

The extended time given for supermarkets and pharmacies to install and operate VMS device is 28th February, 2018. Phase 2 of the rollout for VMS has also been gazetted. Medical centres, travel agencies, accounting firms, law firms and hardware companies (wholesale and retail) are required to install, implement and operate VMS on or before June 30, 2018.

“There’s no turning back, businesses will have to comply. The implementation of this project is to create greater transparency, level the playing field and encourage

good governance,” emphasized Mr. Das

“The world over, in order to increase tax revenue, the tendency is to increase tax rates. However, the Fijian government has lowered tax rates, by reducing the VAT rate from 15 percent to 9 percent and income tax rates to 20 percent”.

“In fact, our current revenue status despite these tax reductions, our revenue has grown by 14 percent. Truly the Government policies for economic growth is working and tax being a portion of that growth, the revenue numbers confirm that,” said Mr. Das.

Revenue and Customs in collaboration with VMS vendors, POS providers and consultants will continue to work closely with supermarkets and pharmacies

through the accreditation process to ensure all comply by end of this month.

For further information or queries on VMS, you can

email EFDCompliance@frcs.org.fj or visit the FRCS website: www.frcs.org.fj.

END

December 27, 2017 3 min read Share:

Notice of Extension and Phase 2 Group

SECOND PHASE OF VMS/EFD

Following the Government Gazette last week, all Hardware Companies, Accounting Firms, Medical Centers, Travel Agencies and Law Firms are now required by law to install and operate an Electronic Fiscal Device (EFD) by 30th June 2018.

The above Companies, Agencies and Firms are part of phase 2 of the implementation of the VAT Monitoring System (VMS)/Electronic Fiscal Device (EFD) system.

“We are also pleased to announce that the deadline for those that fall under the first phase of project has been extended from 31st December 2017 to 28th February 2018. This means that companies will have additional two months to implement the EFD system”, FRCS Chief Executive Officer, Mr. Visvanath Das said.

“So far three supermarkets who are part of the first phase are undergoing “live tests” in the Central Division. Plans are also in pipeline to pilot these in Northern and Western Division. We believe that this system will reduce revenue leakages and will encourage voluntary compliance at the same time. VAT is a trust fund and should be remitted to FRCS on time”, Mr. Das stressed.

Mr. Das further added that “taxpayers can now verify their EFD receipts by downloading the free “FRCS Receipt Verificator” app which is currently only available for Android mobile phones on play store. We will announce when the app will be available for Apple / IOS users”.

EFD is an electronic fiscal device system comprising of a Point of Sale system (POS) and Sales Data Controller (SDC) that is connected and produces fiscal invoices. It includes a secure element that transmits the fiscal data to the Fiji Revenue & Customs Service (FRCS) system.

Taxpayers can click on the following link https://www.frcs.org.fj/vat-monitoring-system- vms/ to access detailed information on VMS project from our website.

END
For queries please contact the Stakeholder Engagement /Public Relations Department on 3243031/ 3243259.

December 19, 2017 2 min read Share:

VMS/EFD Pilot Test

The Fiji Revenue and Customs Service (FRCS) has made significant progress in the implementation of the VAT Monitoring System (VMS)/Electronic Fiscal Device (EFD) following another successful “live test” at the Carpenters Fiji Group Max Val-U Supermart at Lami last week.

Maui Bay Supermarket was the first taxpayer to pilot the EFD since 19th November this year.

The FRCS is confident that more “lives tests” will be conducted soon as other Point of Sale system (POS) suppliers are very close to testing the solution in a supermarket/pharmacy.

“The deadline to implement an EFD for those that fall under the first group of businesses is 31st December 2017. However, we continue to receive requests from affected taxpayers and POS suppliers to extend the deadline bearing in mind that this is a busy period for them,” Chief Executive Officer Mr. Visvanath Das said.

“The objective of this system is not only to have efficient and reliable software to encourage voluntary compliance and at the same time collect the revenue due to the government, but it will also play a broader role in alignment to the government roadmap for development of Fiji, greater financial inclusion initiatives as well as push towards a cashless economy, addressing the black money challenges,” Mr. Das added.

Once a sale is made, the POS sends the transaction data to the SDC. The SDC includes a secure element that formats the data into a fiscal invoice, attaches a digital signature and transmits this back to the POS. At this point, the receipt can be printed and verified by the customer.

Whilst this process is ongoing, the SDC is also sending fiscal data to the FRCS system. Taxpayers and customers can log onto the system to verify the receipt information that is being captured. The entire process is very quick and should not affect printing of receipts for customers.

Taxpayers can click on the following link https://www.frcs.org.fj/vat-monitoring-system- vms/ to access detailed information on VMS project from our website.

END
For queries please contact the Stakeholder Engagement /Public Relations Department on 3243031/ 3243259.