Fiji Sun – Tuesday 26th March 2019.
Subsequent to the implementation of the Electronic Fiscal Device (EFD) Regulation in 2017, the Revenue and Customs has 52.3 million fiscalised receipts in its database with an estimated sales record of $1.3 billion dollars.
The Revenue and Customs has also recorded $100 million dollars in gross VAT and $3.5 million in Plastic Bag Levy through the VAT Monitoring System (VMS) since its inception in December 2017.
“The compliance level for phase 1 (Supermarkets and Pharmacies) and phase 2 (Law firms, Medical Centres, Travel agencies, Accounting firms, hardware companies) still remains a challenge for us. The compliance level currently stands at 82 percent. We are still liaising and assisting businesses to fully comply with the EFD Regulation”, Chief Executive Officer Visvanath Das said.Read more…
