Minister reveals new tax system plan
The Ministry of Revenue is set to roll out a new Tax Invoice Monitoring System (T.I.M.S.) in January next year.
The new tax monitoring system will be rolled out in five phases with the Ministry giving the assurance that there will be public consultations and awareness on it in the lead-up to the launch.
Minister for Revenue, Tialavea Tionisio Hunt, revealed details of the new tax monitoring system in Parliament last month after his Ministry was challenged on its success in collecting taxes.
“I was challenged by one M.P. to aim to collect revenue to the amount of $550 million before the end of the current Parliamentary term and that dream is possible."
The new tax monitoring system is a web-based monitoring tool — which would enable real time capture and monitoring of sales and notification of the Revenue Office on how much tax should be collected — from each a business.
“This program will start in January 2020, this will assist the Revenue Office to effectively collect taxes that is owed to the Government.”
Tialavea also announced that the cargo x-ray scanner for the main wharf at Matautu will arrive next year, thanks to the financial assistance of the Asian Development Bank (A.D.B).
According to the Minister, the Revenue Office is also looking at CusLink, which is an online information service which provides comprehensive customs data.
“We will look at installing this new system at the Customs Office. This system is able to provide us information of all the goods on the container, before the container arrives in Samoa."
As part of the Ministry's upgrading of its services, local businesses have been asked to participate in an online survey, which will address the Ministry's compliance strategy and is a critical element upon implementation.
“All business owners are encouraged to please complete and submit the questionnaire by July 31, 2019 to assist the Ministry in ensuring a smooth transition to fiscalization.”