Ministry of Customs & Revenue celebrates one year since launching Tax Invoice Monitoring System

0
296

The Government of Samoa through the Ministry of Customs and Revenue (‘MCR’) marks one year since launching the Tax Invoice Monitoring System (‘TIMS’) in March 2020. This initiative aims to improve tax compliance by providing a tool to combat tax evasion and sales suppression. Closing the tax gap will ultimately increase revenue collection to fund development projects and infrastructure in Samoa consequently improving our standard of living.

Since its inception, 1114 taxpayers are now on the TIMS database and the MCR is progressing well with implementation despite the challenges of COVID19. Other benefits of TIMS that were not anticipated have arised allowing the MCR to play an active role in forecasting the severity of economic impact as a result of the pandemic and to make informed decisions to help our people.

Taxpayers who are TIMS compliant are now equipped with better monitoring tools and store all sales data electronically for future reference and analyses.

The MCR wishes to convey a tremendous amount of gratitude to taxpayers who are fully compliant and endeavours to continue TIMS implementation for the remaining businesses.

In celebration of the first year anniversary of this milestone and continuous efforts to facilitate compliance, the MCR will extend its weekly seminars for TIMS throughout March 2021 on Mondays and Wednesday at the DBS Building on level 4 at 10:30am so please do not hesitate to call 20411 ext 339 to confirm your participation.

All information pertaining to TIMS can be found on the MCR’s website www.revenue.gov.ws or contact 20411 if you wish to speak to the TIMS Support Team.