The 116,800 micro, small and medium enterprises (MSMEs) registered with the Fiji Revenue and Customs Service (FRCS) contribute almost $59million in taxes annually.
FRCS chief executive officer Udit Singh revealed this in a statement after a training held for almost 3000 representatives from the MSME sector.
He said MSMEs played a significant role in Fiji’s economy by contributing towards job creation, income generation and poverty alleviation.
“It is important to recognise that while the MSMEs may be running their businesses on a small scale now, they hold immense potential as our future taxpayers,” Mr Singh said.
“As they embark on their entrepreneurial journey, FRCS will provide MSMEs with the necessary guidance and support to ensure their success.”
He commended all the entrepreneurs and industrious individuals “who are the backbone of the MSMEs and are making significant contributions to the Fijian economy”.
Mr Singh said of the nearly 3000 MSMEs trained, 75 per cent of those had complied and lodged their tax returns with FRCS.
