Minister of Finance Ryan Straughn has warned businesses not to submit false or unrealistic invoices, explaining that under-invoicing hurts revenue collection and gives some businesses an unfair advantage over their competitors.

Straughn issued the warning at a press conference on Tuesday as part of the 121st anniversary celebrations for the Customs and Excise Department.

The minister admitted there are challenges in making sure businesses submit the right invoices so the department can collect the correct amount of revenue. He said they are working with stakeholders to fix these problems.