FALSE TAX RETURNS
DRIVE AGAINST DEFAULTERS ENORMOUS YEARLY LOSS Because of the huge amount lost to the British Government every year through fraudulent income-tax returns Inland Revenue authorities are now seeking an extension to their powers to make prosecutions. It is estimated that the Treasury loses at least £10,000,000 annually. One thousand inspectors are engaged by the authorities, and the major part of their job is tho investigating of taxreturns about which there is any question. Tho work of the authorities in proving frauds and bringing prosecutions is made more difficult by existing regulations. At present they are not allowed to take proceedings in cases where tho offence was committed more than six years ago, and many defaulters have' escaped through this loophole. Jn the event of the penalties against these people being increased it is likely that a. "time sanctuary," «s suggested bv Mr. Ronald Staples, editor of Taxation, will be instituted. Ho proposes that a period of. say, two years should be set aside, during which time anyone making a confession of having defrauded tho Treasury should bo exempt from all penalties, providing that resti- < tution is mndo in full.
" I am convinced that such a time sanetuarv would . mean an extra £20,000,000 to £25,000,000 for the Treasury," Mr. Staples says.
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Bibliographic details
New Zealand Herald, Volume LXXI, Issue 21698, 13 January 1934, Page 2 (Supplement)
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213FALSE TAX RETURNS New Zealand Herald, Volume LXXI, Issue 21698, 13 January 1934, Page 2 (Supplement)
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