The Fiji Revenue and Customs Service is reminding business customers that VMS Phase 2 deadline to implement an electronic fiscal device system (more commonly known as VAT Monitoring System) is 30th June 2018.
Phase 2 group of businesses include Hardware Companies, Accounting Firms, Medical Centers, Travel Agencies and Law Firms.
“We are in the implementation stage of this project as most of the businesses in Phase 1 have been fiscalised or are in the process of doing so. Customers shopping at supermarkets and pharmacies which have been fiscalised, should receive the new fiscalised receipts which has a QR code allowing the receipt to be scanned and verified. We urge customers to scan and verify their receipts using the FRCS Receipt Verificator app. You can download the app on your smartphone. It is free of charge and available on Google Play or Apple Store,” Chief Executive Officer Visvanath Das said.
“Those businesses that do not currently fall within either group are also welcome to come on board earlier, if they have appropriate systems in place and wish to do so. It is gradually coming for all business groups anyway,” Das said.
A free Point of Sale (POS) application is also made available by FRCS and is compatible with smart phones and tablets (Android and IOS phones) and can be used by small businesses. However, the functions of the application is limited to VMS compliance and no other accounting needs of businesses.
This is only ideal for small businesses.
The VAT Monitoring System (VMS) was launched in 2017 and to date the Revenue and Customs has accredited 13 POS systems and external sale devices. Tech 360 (Fiji) Ltd is the latest vendor to join the list of accredited suppliers, with the supply of Ideal POS 7.