Published On: Wed, Aug 27th, 2014

Sanction law against fraudsters in the making

ParliamentWILLEMSTAD - The government is preparing a bill proposal, which allows them to impose sanctions against business owners who commit fraud. The hope is that this legislation can be ready to present to Parliament before the end of this year.

The bill proposes an escalation model in which a penalty may be imposed on the business owner and if the fraud is repeated, the government can proceed to close the business for an undefined period of time or deprive the owner of its business license.

The problem of fraudulent business owners was discussed during a meeting of the Standing Finance Committee of Parliament last Friday. During this meeting the Tax Accountants Bureau (BAB) gave a presentation on the implementation of the sealed cash register system.

Although not all businesses and retailers have purchased such a system there is already evidence that also with this system business owners commit fraud and tax evasion.

Almost 11.5 million guilders in taxes go unpaid by these fraudulent business owners, according to BAB.

BAB indicates that of this total amount, 5.5 million guilders come from unpaid sales taxes. They also indicated that it matters when auditors from the BAB are present. There was an example of a mini market discussed, where the day before the spot check it made ​​a turnover of 482.18 guilders, but on the day of the inspection the BAB inspectors noted a turnover of up to 1300 dollars.

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