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On my desk this week
I have been thinking a lot recently about last year’s Tax Watch report which revealed that a staggering £14.4bn is lost annually though tax fraud and evasion.
HMRC has a moral obligation to pursue fraud and maintain the integrity of the tax system. A just and equitable society is built upon the principle that dishonesty should not create an advantage. Here’s my view of what HMRC should be doing to prevent fraud and maintain the integrity of the tax system:
- Strengthening controls: HMRC should implement robust controls and oversight mechanisms to prevent and detect instances of tax avoidance and evasion. This involves leveraging technology data analytics and risk assessment tools to identify potentially fraudulent activities.
- Legal reforms: Collaborating with lawmakers to enact comprehensive tax reforms can close existing loopholes and make it more difficult for individuals and businesses to engage in tax evasion and avoidance schemes.
- Public...
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