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Fighting 'missing trader' GST fraud in Singapore

Taxpayers should take all reasonable steps and scrutinise their transactions, to be sure they aren't party to any tax fraud along their supply chain.

The Draft Goods and Services Tax (Amendment) Bill 2020 promises to tighten the noose around cases of missing trader fraud. It kicks in on Jan 1.

MISSING Trader Fraud (MTF) is a problem that has plagued tax authorities around the world. It is a form of fraud by which syndicates make use of the Goods and Services Tax (GST) regime to defraud tax authorities.

There are essentially two broad aspects of the GST regime that should be...

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