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SLA participated in a closed-door consultation exercise organised by IRAS in May 2020 on the possible measures to combat Missing Trader Fraud. The public was also invited to provide feedback on the draft Goods and Services Tax (Amendment) Bill 2020 (“GST Bill”) from 20 July to 7 Aug 2020.
As part of IRAS’s continued engagement efforts with the business community, SLA attended another dialogue session on 26 October 2020 with the businesses to understand the application of the Knowledge Principle, including the due diligence checks that GST-registered businesses can conduct to avoid being involved in Missing Trader Fraud in greater details, as well as providing feedback on the e-Tax Guide on “Due Diligence Checks to Avoid Missing Trader Fraud”.