Shops Investigated for Tax Fraud
Shops in Sweden are to be subject to closer scrutiny for tax fraud by the Swedish National Tax Board.
From 1st July this year the Tax Board are moving the focus of their investigations from the restaurant trade to other cash handling businesses such as opticians and bookmakers.
The aim is to find out how much money ends up in shop owner’s pockets with the help of cash registers that have been manipulated to erase cash transactions in order to avoid paying tax. Such tills are illegal in Sweden with controls currently concentrating on the restaurant trade. Similar regulations are set to be in force within the retail industry by 2010.
Tax and benefit fraud costs the country over 20 billion US dollars a year in lost tax revenue.