ONE of the issues the Fiji Revenue and Customs Service faced was the offshore remittances, says CEO Visvanath Das.
Mr Das highlighted this during an information session held at the Fiji Employers and Commerce Federation (FCEF) office in Suva yesterday.
He said some of these remittances came in the form of shifting funds from Fiji offshore.
“For that you’ll know in the recent times that more local businesses set up their own buying of houses offshore and usually you’ll import things from Malaysia and Indonesia but you’re re-invoicing the funds from Australia or New Zealand,” Mr Das said.
He said once the re-invoice occurred it pumped up the prices for shifting the funds offshore.
Mr Das said another remittance was the buying commissions.
“Buying commission attracts some of the growing taxes, so people travel to Australia, New Zealand and some countries where the governments have agreed to Fiji having a taxing right and the other competitive party will give a credit for the taxes on their part.
“So its for sharing taxes these things need to be looked at for our people,” he said.
