TECHNOLOGY:
$48m FRCS project to improve revenue growth: Das
Fiji Revenue and Customs Service see technology as one of the strategic focus area for future business.
This was said by FRCS Fiji Revenue and Customs Service chief executive officer Visvanath Das yesterday while he announced the new tax information system project that they are undertaking.
“As part of our new corporate plan and transformation journey, technology is the way to go,” said Mr Das.
With technology, he says they will reach out to their stakeholders and customers and achieve an ease of doing business.
The project is a total investment of $48 million and one of the biggest information (IT) projects in the country, he said.
Mr Das said that all the various types of tax that they have administered, they will bring them to this new project framework.
“As per our commitment we want to simplify tax administration.
“For our customers and tax payers we are looking at better excess of their tax information online.”
Mr Das added that they want their customers to spend more time on their business and to be able to comply voluntarily.
With the improvement in tax system, they are looking at revenue growth and the implemented system has very advance analytic ability to improve profiling and case management, he says.
“We are looking at helping Fiji grow and technology will take us to that direction.”
Starting yesterday, it would take at least two years to implement the project before it is launched.
About Invenio Solutions
British based global company Invenio Solutions has been contracted to implement the project it said in a statement that, FRCS was facing numerous technology challenges, mainly because of their ageing tax platform, which is not able to keep up with the changing business needs and taxpayer volumes.
In order to find the best solution for a replacement, FRCS ran a global competition process.
Invenio with their SAP-based solution were shortlisted along with a company with an Oracle-based solution, to do a four-monthlong parallel process study and design exercise. After a careful evaluation of the quality, roadmap and overall suitability, Invenio was chosen to undertake the implementation project by FRCS board and funding approved in the national budget. The S/4HANA solution, to be implemented by Invenio, will cover 24 different direct and indirect tax types, levies and duties, along with interfaces for other government departments and customs. In addition to that, Invenio will provide Analytics, Risk and Fraud Management solutions in one single platform.
The solution will not only help FRCS to modernise their back-end business processes but it will improve the tax collection and provide a better user experience for the taxpayer. After the implementation, Invenio will support the solution for an additional four years.
Invenio Solutions managing director, Partho Bhattacharya, said: “We are delighted that we were chosen to work on this project. This is a great opportunity for both Invenio and FRCS and we are looking forward to working together for the next few years.” Meanwhile, as a part of the long-term commitment, Invenio will establish a subsidiary operation in Fiji, training local youth on SAP technology and tax-related business process. It will serve as the company’s South Pacific node to address business needs in Australia, New Zealand and South Pacific islands.
Invenio’s Asia-Pacific headquarters is in Mumbai, India.
We are delighted that we were chosen to work on this project. This is a great opportunity for both Invenio and FRCS and we are looking forward to working together for the next few years. Partho Bhattacharya Invenio Solutions managing director