Chinese businesses on notice as Solomons’ Government announces tax crackdown

The Solomon Islands Government has created a taskforce to crack down on Chinese businesses flouting tax payments.

Describing it as a “big problem”, the Minister of Finance and Treasury Snyder Rini revealed the issue facing the Government in parliament yesterday.

Mr Rini said the inland revenue division was facing major issues collecting Goods and Services Tax (GST) from local Chinese shops.

He said this was due to the lack of proper records of GST payments. There was also an issue over businesses understating overseas purchases to lower duty and GST payments, he said.

The Finance Minister said a task force has been established to seriously address the issue.

“It’s a big problem and we are trying to address it,” he said. “And the inland revenue will be going out to check the books of businesses.

“Not only the Chinese business owners, but all business owners.”

By Freddie Kusu