Publication Type

Blog Post

Version

publishedVersion

Publication Date

9-2020

Abstract

In the Draft Goods and Services Tax (Amendment) Bill 2020 (the “Draft Bill”), Singapore proposes a new framework to deal with the problem of MTF. The approach is neatly summarised by a document released by the Singapore Ministry of Finance: “Annex: Proposed Changes to the Goods and Services Tax Act”, of which one point is of particular interest. The document states that the proposed legislative amendments will “allow the Comptroller of GST to deny a GST-registered business’ input GST claim, if the business knew or should have known that his purchase was part of or connected with a fraudulent arrangement. The burden of proving that the business knew or should have known of the fraudulent arrangement lies on the Comptroller, with the standard of proof being the balance of probabilities. This is similar to the approach taken in the United Kingdom (“UK”) and the European Union to safeguard tax revenue.

Keywords

Carousel Fraud, VAT, GST, Missing Trader Fraud, Singapore Tax

Discipline

Asian Studies | Tax Law

Research Areas

Corporate, Finance and Securities Law

Publication

Kluwer International Tax Blog

First Page

1

Last Page

3

Publisher

Kluwer

Embargo Period

4-20-2021

Copyright Owner and License

Authors

Additional URL

http://kluwertaxblog.com/2020/09/22/singapores-proposed-approach-to-tackling-missing-trader-fraud/

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