The Australian Taxation Office (ATO) Serious Financial Crime Taskforce (SFCT) is warning businesses about the supply and usage of Electronic Sales Suppression Tools (ESST’s).
ESST software is used to under-report taxable income and to avoid paying tax. It can be connected to a point-of-sale (POS) system and can delete or reconfigure transactions. It also has the ability to produce fake tax records.
The ATO is seeking to identify businesses that use ESST’s by looking at lifestyle indicators, banking information, small business benchmarks and tip-offs from the community.
Click HERE to see the article published on the ATO website.
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