MORC works with businesses in preparation for new legislation
Radio & TV Tonga, Nuku’alofa, 20/05/2019
The ministry of Revenue this morning began a workshop on point of sale register – with CT-registered businesses, in preparation for new legislation on their operations which will come into effect on July 1.
The CEO of the ministry – Kelemete Vahe one of the biggest issues the ministry has faced in the collection of tax was the discrepancies in the information received from several businesses resulting in a far less tax payment being made, due to the lack of a cash register to properly record consumption taxes that the business had collected.
Vahe says they realize they miss around 4 million pa’anga because of this lack of formal records. Vahe emphasized the importance of fixing this in order to ensure the ministry receive the funds it needs to carry out its operations and duties to the public.
This workshop began this morning with representatives from 12 businesses invited to participate and this will continue the rest of this week and in the weeks to come, as the ministry tries to get all CT-registered business to comply with this law. By July 1st businesses not complying with the new law will be penalised.
© Radio and Television Tonga News