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.

Last Updated - July 18, 2024