|
Missing Trader Fraud
Missing trader fraud (also called missing trader intra-community fraud or MTIC fraud) involves the theft of Value Added Tax (VAT) from a government by fraudsters who exploit VAT rules, most commonly the European Union VAT rules which provide that the movement of goods between member states is VAT-free. There are different variations of the fraud but they generally involve a trader charging VAT on the sale of goods and absconding with the VAT (instead of paying the VAT to the government's taxation authority). The term "missing trader" is used because the fraudster has gone missing with the VAT. A common form of missing trader fraud is carousel fraud. In carousel fraud, VAT and goods are passed around between companies and jurisdictions, similar to how a carousel revolves. VAT rules The usual operation of VAT is as follows: a business that buys and sells goods charges VAT to those to whom it sells ('output tax'), and is charged VAT by those from whom it purchases ('input tax' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inland Revenue Authority Of Singapore
The Inland Revenue Authority of Singapore (IRAS) is a statutory board under the Ministry of Finance of the Government of Singapore in charge of tax collection. History Early beginnings The Singapore Income Tax Department was created in 1947 to administer the Income Tax Ordinance enacted during that year. Actual assessing of tax only began in November 1948. In the first Year of Assessment, about 40,000 individual tax returns and 1,000 corporate returns were received. The total tax collected for the period 1 January 1948 to 31 December 1949 was $33.2 million. 1960s Following self-government in 1959, the Inland Revenue Department was formed in 1960 when various revenues administered and collected by a number of separate agencies were brought together. When Singapore attained independence on 9 August 1965, substantial changes were made to the Income Tax Act, which came into effect on 1 January 1966. 1970s By this time, the number of Acts that came under the Department's purview ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fraud
In law, fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law (e.g., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compensation) or criminal law (e.g., a fraud perpetrator may be prosecuted and imprisoned by governmental authorities), or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong. The purpose of fraud may be monetary gain or other benefits, for example by obtaining a passport, travel document, or driver's license, or mortgage fraud, where the perpetrator may attempt to qualify for a mortgage by way of false statements. Internal fraud, also known as "insider fraud", is fraud committed or attempted by someone within an organisation such as an employee. A hoax is a distinct concept that involves deliberate deception without the intention of gain or of materially damaging or depriving a vi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union Tax Law
European, or Europeans, or Europeneans, may refer to: In general * ''European'', an adjective referring to something of, from, or related to Europe ** Ethnic groups in Europe ** Demographics of Europe ** European cuisine, the cuisines of Europe and other Western countries * ''European'', an adjective referring to something of, from, or related to the European Union ** Citizenship of the European Union ** Demographics of the European Union In publishing * ''The European'' (1953 magazine), a far-right cultural and political magazine published 1953–1959 * ''The European'' (newspaper), a British weekly newspaper published 1990–1998 * ''The European'' (2009 magazine), a German magazine first published in September 2009 *''The European Magazine'', a magazine published in London 1782–1826 *''The New European'', a British weekly pop-up newspaper first published in July 2016 Other uses * * Europeans (band), a British post-punk group, from Bristol See also * * * Europe (disam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HMRC
, patch = , patchcaption = , logo = HM Revenue & Customs.svg , logocaption = , badge = , badgecaption = , flag = , flagcaption = , image_size = , commonname = , abbreviation = , motto = , formed = , preceding1 = Inland Revenue , preceding2 = HM Customs and Excise , dissolved = , superseding = , employees = 63,042 FTE , volunteers = , budget = (2018–2019) , country = United Kingdom , constitution1 = Commissioners for Revenue and Customs Act 2005 , speciality1 = customs , speciality2 = tax , headquarters = 100 Parliament Street, London, SW1A 2BQ , sworntype = , sworn = , unsworntype = , unsworn = , minister1name = Andrew Griffith MP , minister1pfo = Economic Secretary to the Treasury and mi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, and many smaller islands within the British Isles. Northern Ireland shares a land border with the Republic of Ireland; otherwise, the United Kingdom is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. The total area of the United Kingdom is , with an estimated 2020 population of more than 67 million people. The United Kingdom has evolved from a series of annexations, unions and separations of constituent countries over several hundred years. The Treaty of Union between the Kingdom of England (which included Wales, annexed in 1542) and the Kingdom of Scotland in 170 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canada Revenue Agency
The Canada Revenue Agency (CRA; ; ) is the revenue service of the Canadian federal government, and most provincial and territorial governments. The CRA collects taxes, administers tax law and policy, and delivers benefit programs and tax credits. Legislation administered by the CRA includes the ''Income Tax Act,'' parts of the ''Excise Tax Act'', and parts of laws relating to the Canada Pension Plan, employment insurance (EI), tariffs and duties. The agency also oversees the registration of charities in Canada, and enforces much of the country's tax laws. From 1867 to 1999, tax services and programs were administered by the Department of National Revenue, otherwise known as Revenue Canada. In 1999, Revenue Canada was reorganized into the Canada Customs and Revenue Agency (CCRA). In 2003, the Canada Border Services Agency (CBSA) was created out of the CCRA, leading to customs being dropped from the agency's mandate and the agency's current name. The CRA is the largest organiz ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canadian Government
The government of Canada (french: gouvernement du Canada) is the body responsible for the federal administration of Canada. A constitutional monarchy, the Crown is the corporation sole, assuming distinct roles: the executive, as the ''Crown-in-Council''; the legislature, as the ''Crown-in-Parliament''; and the courts, as the ''Crown-on-the-Bench''. Three institutions—the Privy Council ( conventionally, the Cabinet); the Parliament of Canada; and the judiciary, respectively—exercise the powers of the Crown. The term "Government of Canada" (french: Gouvernement du Canada, links=no) more commonly refers specifically to the executive—ministers of the Crown (the Cabinet) and the federal civil service (whom the Cabinet direct)—which corporately brands itself as the ''Government of Canada'', formally known as '' Majesty's Government'' (french: Gouvernement de Sa Majesté, links=no). There are over one hundred ministries, departments and crown corporations and over 300,000 per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Council Of The EU
The Council of the European Union, often referred to in the treaties and other official documents simply as the Council, and informally known as the Council of Ministers, is the third of the seven Institutions of the European Union (EU) as listed in the Treaty on European Union. It is one of two legislative bodies and together with the European Parliament serves to amend and approve or veto the proposals of the European Commission, which holds the right of initiative. The Council of the European Union and the European Council are the only EU institutions that are explicitly intergovernmental, that is, forums whose attendees express and represent the position of their Member State's executive, be they ambassadors, ministers or heads of state/government. The Council meets in 10 different configurations of national ministers (one per state). The precise membership of these configurations varies according to the topic under consideration; for example, when discussing agricu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carbon Emission Trading
Emission trading (ETS) for carbon dioxide (CO2) and other greenhouse gases (GHG) is a form of carbon price, carbon pricing; also known as cap and trade (CAT) or carbon pricing. It is an approach to Climate change mitigation, limit climate change by creating a market with limited allowances for emissions. This can lower competitiveness of fossil fuels and accelerate investments into Low-carbon power, low carbon sources of energy such as wind power and photovoltaics. Fossil fuels are the main driver for climate change. They account for 89% of all CO2 emissions and 68% of all GHG emissions. Emissions trading works by setting a quantitative total limit on the emissions produced by all participating emitters. As a result, the price automatically adjusts to this target. This is the main advantage compared to a fixed carbon tax. Under emission trading, a polluter having more emissions than their quota has to purchase the right to emit more. The entity having fewer emissions sells ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Finance (Singapore)
The Ministry of Finance (MOF; ms, Kementerian Kewangan; zh, 财政部; ta, நிதி அமைச்சு) is a ministry of the Government of Singapore responsible for managing the fiscal policies and the structure of the economy of Singapore. Responsibilities The authority's main regulatory statutes are Accountants Act, Accounting Standards Partnerships Act, Business Registration Act, Companies Act, Limited Partnerships Act and the Limited Liability Partnerships Act. The MOF ensures that businesses in Singapore are compatible with international standards and practices, in areas such as company law, accounting standards and corporate governance principles. Singapore Budget Every year, the MOF prepares the Singapore Budget and the Minister for Finance presents the Budget to the Parliament before the new financial year begins. The Budget includes the revised Government revenue and expenditure projections for the current financial year as well as the planned governmen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Singapore
The Government of Singapore is defined by the Constitution of Singapore to mean the executive branch of the state, which is made up of the president and the Cabinet. Although the president acts in their personal discretion in the exercise of certain functions as a check on the Cabinet and the Parliament, their role is largely ceremonial. It is the Cabinet, composed of the prime minister and other ministers appointed on their advice by the president, that have the general direction and control of the government. The Cabinet is formed by the political party that gains a simple majority in each general election. A statutory board is an autonomous agency of the Government that is established by an Act of Parliament and overseen by a government ministry. Unlike ministries and government departments that are subdivisions of ministries, statutory boards are not staffed by civil servants and have greater independence and flexibility in their operations. There are five Community ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.svg "Click for more on -> United Kingdom")
.jpg "Click for more on -> Canada Revenue Agency")
.jpg "Click for more on -> Canadian Government")
