Fiji Times, 08 March – THIS week’s article will feature on VAT refunds and when these are made. It is important that you file a VAT return on time.
When VAT is refunded
FRCA will refund excess tax collected by registered persons when the total input tax deductions exceed the amount of output tax.
This means that the VAT incurred on expenses and purchases for the business exceeds VAT obtained from sales within a taxable period. Read more…
