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SMEs Concerned Over Compatibility with Fiji Revenue Customs Services Database Amid VMS Implementation

  • Many SMEs are concerned about system compatibility with the Fiji Revenue Customs Services database.
  • Chandu Lodhia raised this issue at a conference with the Fiji Revenue and Customs CEO.
  • Lodhia mentioned challenges in implementing the Vat Monitoring System.
  • Businesses have incurred high costs changing software due to these challenges.
  • CEO Udit Singh acknowledged the existence of a large shadow economy.
  • Efforts are being made to reduce the VMS threshold for better transparency and digitization.
  • A low-cost point of sale system is being developed to assist small businesses.
  • A free point of sale system is currently available for small businesses.
  • FRCS plans to partner with external parties for cost-effective solutions.
  • The rollout of VMS phase three aims to minimize impact on businesses.

Source: fijitimes.com.fj

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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