Fiji’s Finance Industry Sees Surge in Whistleblower Protection Efforts

Promoting Transparency and Accountability

In a bid to combat tax evasion and promote transparency, Fiji’s finance industry has seen a significant increase in whistleblower protection efforts. The Revenue & Customs Authority (RCA) has implemented a robust whistle-blower policy that encourages members of the public to report any fraudulent activities or unethical behavior committed by companies or individuals.

A Growing Number of Whistleblower Cases

According to recent figures, RCA received 271 whistleblower cases last financial year, with a total reward payout of $313,958. Of these cases, 204 were successfully closed, resulting in tax revenue collection of $8.93 million, including:

• $4.94 million in real taxes
• $3.99 million in penalties

The Whistleblower Policy

The whistle-blower policy encourages individuals to report any breaches of FRCS legislation, regulations, or policies without fear of victimization or subsequent discrimination. Whistleblowers can make disclosures anonymously by submitting relevant information, including:

• Background and history of the concern
• Reasons for reporting
• Documentary evidence
• Telephone contacts

Protecting Whistleblowers from Retaliation

RCA’s Chief Executive Officer (CEO) has emphasized the importance of protecting whistleblowers from potential retaliation. “We will not tolerate any form of harassment, victimization, or discrimination against individuals who report suspicious activities in good faith,” the CEO said.

A Notable Case: $100,000 Reward for Reporting Tax Evasion

In one notable case, RCA awarded a whistleblower $100,000 for reporting a motor vehicle company that was manipulating its sales records and under-declaring VAT and income tax. The investigation revealed major discrepancies between the company’s tax returns and bank account statements.

Dedicated Hotline for Concerns or Complaints

RCA has also established a dedicated hotline for taxpayers to report any concerns or complaints. “We are committed to ensuring fairness and consistency in the application of our laws, and we encourage all taxpayers to come forward if they have any information about potential fraudulent activities,” said RCA’s Chief Ethical Standards Officer.

A Major Step Towards Transparency and Accountability

The whistle-blower policy is seen as a major step towards promoting transparency and accountability within Fiji’s finance industry. With increased protection for whistleblowers, authorities are better equipped to detect and prevent tax evasion, ultimately benefiting the country’s economy and taxpayers alike.