[Source: FRCS/ Facebook]

The Fiji Revenue and Customs Service is ramping up efforts to assist Micro, Small and Medium Enterprises with their tax compliance needs.

FRCS Chief Executive Udit Singh has highlighted initiatives aimed at educating and supporting these businesses to understand their obligations.

Singh says one of the key challenges identified by FRCS is the knowledge gap among MSMEs regarding tax requirements.

“Some of them are starting to grow a little bit bigger, larger and then they come on to the thresholds. So we need to be making sure that when they reach the threshold they are aware of their tax obligations. Some of them might have employees so they have to pay PAYE.”

Singh says since the implementation of these programs, FRCS has observed a positive shift in how MSMEs engage with tax services.

“We are breaking the barriers down. It’s always been FRCS as a regulator and effectively this whole fear, as you say, to approach. But we are trying to make sure that they are aware of the fact that we are helpful. We want them to be aware of the obligations and we are here to support them. So those barriers are breaking down all a bit slowly.”

FRCS aims to ensure that growing businesses are well-prepared to meet their tax obligations, contributing to the overall economic health and stability of the country.