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GST Compliance Risks: Understanding Missing Trader Fraud and Applying the Due Diligence Checks to protect your Input Tax Claims
ZOOM


3.5

CPD Hours Awarded

In Stock

$170.00/Pax

Date: 18 June ( Thursday )

Time: 9.00am-12.30pm

 

 

Participant (In Person) 1

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Missing Trader Fraud is a fraudulent scheme targeting the GST system. It typically involves fictitious transactions orchestrated by a network of individuals and businesses designed to illicitly claim GST refunds or avoid tax obligations.

MTF drains government revenue and puts unsuspecting businesses at risk. Fraudsters create fake supply chains, register shell companies, and vanish after collecting GST, leaving downstream businesses to face investigations.

IRAS identifies Missing Trader Fraud arrangements to be one of the key compliance risks areas among taxpayers and conducts extensive audits and investigations on businesses and individuals involved in such fraudulent arrangements. Such cases are detected using advanced data analytics. Other sources of leads include tip-offs from whistle-blowers.

Why it matters to you:

  • Fraudsters may lure you with “guaranteed profits” and low-risk deals.
  • If caught, you—not the perpetrators—will be held accountable.
  • Due diligence is not optional – Implementing robust due diligence procedures aligned with IRAS’ guidance is essential to safeguarding GST input tax claims and avoiding costly disputes with the tax authority.
  • IRAS actively audits and investigates these schemes using advanced data analytics and whistle-blower tip-offs.

Join this workshop to learn:

  • How Missing Trader Fraud works
  • Red flags to watch out for
  • How to conduct the proper due diligence checks to facilitate your GST Input Tax claims
  • Practical steps to protect your business

What is Missing Trader Fraud (MTF)?

The different MTF arrangements

Insights on recent cases involving MTF arrangements

Due Diligence Checks to avoid being involved in MTF

  • The “Knowledge Principle”
  • The Three-pillar approach
  • Tax Professionals and Executives
  • Accounting and Finance Professionals
  • Business Managers and Directors
  • Anyone who would like to learn how MTF works, the red flags to watch out for and the practical steps to protect your business

Catherine Chiang
 ATA (GST), BAcc (Hons)

 Catherine has more than 20 years of experience in GST consultancy, with more than 10 years of training experience. She has previously spent 6 years in IRAS, handling GST and Income Tax audit and almost 10 years with 2 of the Big Four international accounting firms, specializing in GST compliance and advisory work. During this period, she has accumulated extensive experience in performing GST prudential reviews, GST consultancy, GST compliance and GST training for clients.

Catherine has a Bachelor of Accountancy (Honours) degree from the National University of Singapore. She is an Accredited Tax Advisor (GST) registered with the Singapore Chartered Tax Professionals and an Advanced Certificate in Training and Assessment (ACTA) certified Trainer.