Effective from
1 August 2024,
VMS is reactivated in Fiji!
Ensure your VAT Monitoring System is up and running and that your fiscalization is compliant to avoid penalties.
What is this obligation?
As announced on June 28, 2024 (download PDF), the Fiji Revenue and Customs Service has reactivated the requirement for all businesses in the 1st and 2nd phases of the country’s Fiscalization Initiative to implement a VAT Monitoring System (VMS).
Businesses must now use accredited Point-of-Sale (POS) solutions and Sales Data Controllers for performing transactions, which are responsible for collecting and transferring VAT-related information to the Fiji Revenue and Customs Service for each sale.
The businesses included in the 1st and 2nd phases are:
– Supermarkets
– Pharmacies
– Law and Accounting Firms
– Medical Centres
– Hardware Companies (wholesale and retail) and
– Travel Agencies
The 3rd phase is expected to be launched in early 2025, involving new businesses from the hospitality sector. Due to the potentially lengthy implementation process for the VMS, companies that have not yet implemented it are urged to act without further delay to avoid penalties.
How Can We Help You?
We are a passionate team of consultants who can assist you with the fiscalization requirements of several countries, with special emphasis on Fiji and Samoa.
We provide answers and solutions that alleviate the burden of complying with the VMS VAT reporting legal requirements, allowing you to focus on what truly makes you happy in your business.
We are here to assist you, whether you have a small shop or multiple large supermarkets, we are dedicated to guiding you through the complex challenge of implementing the mandatory VAT Monitoring System (VMS).
Contact us
Reach out to us for more information about the law updates or if you need help keeping your business compliant with the changing requirements.