"Revenue from the community
for the community"
Fishing Industry workshop on CT
15/06/2006 1:45:22 p.m.

Yesterday, the Revenue Services Department (RSD) large business division held a workshop for the fishing industry.  Presentations were given by Mr Ian Dickson (Advisor on Tax Reform), Mr Kolo Peauatonga (Asst. Deputy Commissioner), Mr Craig Ashton (RSD Compliance Advisor) and supported by Mr ‘Aholotu Palu (Chief Economist - Treasury) and Mr Saia Faletau (Chief Economist - Treasury).

The workshop provided advice on the introduction of CT, proper invoicing, CT return process, how to get your refunds, good book keeping and how to treat certain supplies from CT and non-CT registered businesses.

The main message from RSD to the industry was to improve the level of record keeping and to collect the information required by the CT Act.  It is important that all businesses have proper record keeping systems because this will aid RSD staff who are verifying CT returns and helps to accelerate the refund process.

The Fishing Industry raised interesting issues such as what constitutes a proper invoice, what to do when suppliers refuse to provide an invoice etc.  The RSD Officers were able to answer each of the questions as well as providing supporting information for industry members to take as a guide.

One of the main issues highlighted by industry members was the time taken to receive refunds.  RSD informed the industry that the refund process is in place and only takes one day to turn around.  However, any holdup will be due to incomplete CT returns, unverified invoices and inaccurate calculations provided by businesses.  This can be overcome through better record keeping and working closer with RSD.

The workshop was very successful and it also provided the industry with the opportunity to discuss their concerns regarding CT.  RSD also pledged that they will be working closely with the industry to address all their issues.  Other measures will also be introduced such as quarterly newsletters and a hotline to assist businesses as well as reporting non-compliant businesses.

Improving the lives of Tongans through effective & efficient tax & customs administration