Tough penalties for tax-dodging software

(Australian Associated Press)

 

Companies which make, use or supply tax-dodging software will face severe penalties after laws to crackdown on the black economy were rubber-stamped in federal parliament.

The legislation was given the tick in the lower house on Tuesday after clearing the Senate on Monday, meaning people found to be creating or distributing the software will face fines of more than $1 million, while those using it could be stung more than $100,000.

The soon-to-be illegal “zapper” software allows businesses to delete transactions from point of sales systems to fudge earnings data and avoid tax.

 

Photo by rawpixel on Unsplash

Read it on Apple news

0

Like This

Categories: Tax