Jozef Imrich, name worthy of Kafka, has his finger on the pulse of any irony of interest and shares his findings to keep you in-the-know with the savviest trend setters and infomaniacs.
''I want to stay as close to the edge as I can without going over. Out on the edge you see all kinds of things you can't see from the center.''
Like any tax, the Goods and Services Tax (GST ) is vulnerable to evasion and fraud
Questions about the escalating size of the scam were put to Commissioner of Taxation Chris Jordan by Senator John Williams during a Senate committee hearing early last year.
Senator Williams: Would they not be liable for fraud charges?
Mr Jordan: If it was fraud we would have taken action with the Australian Federal Police. What they would be arguing, though, is they would be asserting they were doing what the law allows.
The ATO reports the cost to taxpayers has now ballooned to more than $550 million and continues to grow. Based on volumes, industry sources guess it may be twice the size. This would make it the second largest tax scam to hit Australia after Project Wickenby, which yielded $985 million in tax and prompted 46 convictions.
Australian Federal Police and ATO issued a press releasein 2013 alleging "companies fraudulently claimed GST credits and failed to report GST correctly. They formed syndicates to conceal the true nature of their activities and to avoid detection." Australia's bullion gst fraud
CANADA: On June 8, 2011, the day after Revenue Quebec raided Kitco's headquarters, Kitco was granted CCAA creditor protection by the courts (similar to U.S. Chapter 11 bankruptcy protection). On November 6, 2014, the CCAA protection was extended again to June 18, 2015.The CCAA protection allows Kitco to continue under its existing management, with Richter acting as a Monitor. Around May, 2014 Kitco paid the majority of creditors in full, with others receiving partial payments (except Revenue Quebec).... en.m.wikipedia.org/wiki/