THE newly signed Tax Crimes Taskforce Memorandum of Understanding will allow agencies to share financial intelligence in real time and strengthen investigations into suspected tax evasion.
Fiji Financial Intelligence Unit (FIU) director Caroline Pickering said while the unit has long worked with the Fiji Revenue and Customs Service (FRCS), the new agreement formalises collaboration and makes it faster and more efficient.
“What the task force does is help us collaborate better on suspected tax evasion cases,” Ms Pickering said.
“Before, if we came across a case, we would refer it to FRCS, or they would request information from us.
“Now we can work together from day one, sharing intelligence as investigations progress.”
Ms Pickering said the MoU would improve detection of crimes beyond tax evasion, such as fraud, bribery, and money laundering.
“In the past, FRCS focused on auditing and recovering the unpaid tax. Under this initiative, we will also examine the criminal elements — was there fraud, bribery or money laundering involved?”
“If someone evades tax and then uses that money to buy property, that’s money laundering.”
Ms Pickering said the real-time sharing of data between agencies such as FIU, FRCS, Fiji Police, FICAC, and others would result in quicker investigations and stronger enforcement.
“It ultimately gives us quicker turn around times in investigating tax matters.
“It’s about improving collaboration so we can act faster and more effectively against financial crimes.”
