"Revenue from the community
for the community"
CONSULTATION WORKSHOP ON THE USE POINT OF SALE REGISTER
22/05/2019 2:34:08 p.m.

MEDIA RELEASE 

CONSULTATION WORKSHOP ON THE USE POINT OF SALE REGISTER

Monday 20th May 2019

Participants of Point of Sale Register Workshop.

 

The Ministry of Revenue and Customs, this morning commenced its consultation workshops with the first group of selected taxpayers regarding the use of point of sale registers in their businesses. This is the first of the 3 groups selected for the first round of consultation on the topic.

The requirement for use of point of sale registers or point of sale machines is provided for in the new Income Tax Act 2019 recently passed by Parliament and awaiting His Majesty’s Royal Assent. The Ministry is working together with the Office of the Attorney General aiming for the new Act to be effective on the 1st July 2019. The need for this initiative was brought about by an unfortunate realization after the Ministry conducted a Sales Tracking Mission (STM) in 2016 through 2018 on selected businesses, that sales were not properly recorded therefore under declared by at least 38% resulting in tax loss of an estimated $3.6m.

The Ministry will continue to work on encouraging the business community especially those that are not keeping proper records to use point of sales registers for their businesses as it will not only help the Ministry, but help their own businesses.

The consultation workshop will continue tomorrow, Tuesday 21st and Wednesday 22nd.

 

CEO

Ministry of Revenue and Customs

 

 

 

 

Improving the lives of Tongans through effective & efficient tax & customs administration