The Fiji Revenue and Customs Service (FRCS) has introduced a VAT Monitoring System (VMS) to encourage voluntary tax compliance and collect the revenue that’s due to the government.
Every sales transaction made via a POS or invoicing system must go to an Electronic Fiscal Device (EFD) where the transaction data is captured and digitally verified. If the POS cannot verify the transaction via the device, the transaction cannot be completed. This implementation is happening in supermarkets and pharmacies first then will extend to other retail sectors.
If you’re in Fiji and would like to find out more about Infinity, please contact us.