6 men charged for alleged involvement in GST fraud involving S$114 million of fictitious sales Toggle share menu
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04 Aug 2021 01:46PM (Updated:
04 Aug 2021 01:50PM) Share this content
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SINGAPORE: Six men were charged on Wednesday (Aug 4) for their alleged involvement in a Goods and Services Tax (GST) missing trader fraud involving approximately S$114 million in fictitious sales.
This is the first prosecution involving such fraud, said the Singapore Police Force (SPF) and Inland Revenue Authority of Singapore (IRAS) in a joint media release.
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A missing trader fraud happens when a seller collects output GST on goods sold but disappears without paying it to IRAS.
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