FOUR MORE SUPPLIERS ACCREDITED FOR VMS

A total of eight suppliers have been accredited to date to supply the Electronic Fiscal Device (EFD)/VAT Monitoring System (VMS) to the Fijian market after a further accreditation process by the Fiji Revenue and Customs Service. Their full contact and all relevant information to help with implementation can be found at the website link https://www.frcs.org.fj/ our-services/vat-monitoring-system-vms/. For any customer queries relating to this can be sent via email to EFDcompliance@frcs. org.fj. “The deadline for supermarkets and pharmacies expired on February 28 and we are now working with the accredited suppliers to ensure that there is a smooth transition and that businesses are compliant with the EFD/VMS laws,” said Chief Executive officer Visvanath Das. “Revenue & Customs have negotiated with suppliers to ensure that there is minimum cost to ensure compliance.” FRCS reiterates that there is no extension to the deadline for implementation and that they will only defer penalty enforcement for suppliers who have met the two requirements, that is: (1) complied by registering and cleansing their data through the MyInfo portal and (2) have collected their secure element (smartcards) from the Revenue & Customs Office nearest to them. “To ensure that businesses have minimal disruptions while complying; we have also developed a free Point Of Sale application which is compatible with smart phones / tablets. The free application will not compete with other suppliers as it has some limitations in functionalities with respect to internal accounting for business needs but meets the requirements of the Regulations, said Mr Das. Very soon supermarkets and pharmacies will be issuing fiscal receipts. We urge consumers to download the Fiji Revenue and Customs receipt verifier application free of charge and verify the receipts issued to them. The FRCS would also like to remind medical centres, travel agencies, accounting firms, law firms and hardware companies (wholesale and retail) that they are the next group of businesses required to install, implement and operate the EFD system on or before June 30 and urge businesses to register and comply now to avoid any penalties. This new initiative has also created a business opportunity in the local market, given the increased demand for smart card readers. “FRCS would like to encourage all IT dealers to stock up on smart card readers as we have observed that this is in short supply at the moment,” said Mr. Das Fiji Revenue and Customs Service Feedback: maraia.vula@fijisun.com.fj