The Samoa Government is looking at ways to assist the small businesses in relation to the enforcement of the Government’s Tax Invoice Monitoring System or TIMS.
The TIMS is an initiative that enables the Ministry of Customs and Revenue to track and cross-check whether or not taxpayers are paying their taxes in full.
Prime Minister Fiame Naomi Mata’afa said during her press conference the Minister of Customs and Revenue Tuala Ponifasio and the Ministry has been instructed to look at ways they can assist the businesses that cannot afford this tool.
TIMS this is one of the new changes implemented by the previous administration.
Compliance under the Tax Administration (Tax Invoice Monitoring System) Regulations 2020 requires a business to have an Electronic Fiscal Device System (E.F.D.), an accredited point of sale software and E-S.D.C. [External Sales Data Controllers] plus a smart card reader issued by the Ministry upon enrolment and registration.
Fiame said while the TIMS can track businesses, but the emphasis should be placed on whether the small businesses can afford it the tool used to implement TIMS.
The Prime Minister added the Ministry should have guidelines that can differentiate the revenue collection between the businesses and what they can afford, this way they can determine which business should be using TIMS.