Tax violations pose significant risks, affecting revenue collection and weakening public confidence in both the legal and financial systems. Recognizing this, the Ministry of Finance, in collaboration with the Fiji Revenue and Customs Service (FRCS), has initiated a five-member Tax Compliance Taskforce. This task force is focused on curbing tax evasion and avoidance, thus reinforcing tax compliance in Fiji.
The FRCS announced that a structured framework will be established for the taskforce, which will detail its operations and guidelines. This will be accompanied by a memorandum of understanding with other enforcement agencies in the coming months. The primary objectives of the taskforce include enhancing tax compliance, preventing tax evasion, and improving revenue collection through strict enforcement and cooperative efforts with relevant agencies and the business sector.
The inaugural meeting of the taskforce took place yesterday, with Nitin Gandhi, a board member of FRCS and a chartered accountant, serving as the chair. The task force is composed of experienced professionals, including former FRCS CEO Jitoko Tikolevu, former acting Commissioner of Police Rusiate Tudravu, anti-corruption specialist Avaneesh Anand Raman, and financial management expert Pramesh Sharma.
Set to operate for an initial year, the taskforce will work closely with various bodies, including the Commissioner of Tax as per the FRCS Act, the Fiji Financial Intelligence Unit, the Fiji Independent Commission Against Corruption (FICAC), the Fiji Police Force, the Director of Public Prosecutions Office, and international partners like Australia and New Zealand.
Key responsibilities of the taskforce include:
– Reviewing and suggesting enhancements to existing laws and procedures.
– Assessing and redesigning frameworks for investigating and prosecuting undisclosed income and financial misconduct.
– Collaborating with pivotal agencies to tackle tax evasion and financial crimes.
– Utilizing evidence-based information from diverse sources to facilitate investigations.
– Implementing protective measures for revenue and ensuring adherence to legal requirements.
– Upholding strict standards for data privacy and security.
Deputy Prime Minister and Finance Minister Professor Biman Prasad expressed his support for the taskforce’s formation and emphasized the importance of collaborative efforts across all involved agencies.
This initiative not only aims to bolster Fiji’s financial integrity but also serves as a crucial step towards enhancing accountability and trust in the nation’s economic systems. The establishment of the taskforce is a positive move towards creating a fairer taxation environment, which is beneficial for both the economy and the citizens of Fiji.
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