As part of the Black Economy Taskforce findings, it was revealed that some taxpayers have been utilising sales suppression technology to fraudulently under-report their sales, by destroying or manipulating electronic sales records.

While this is obviously fraudulent, the Government also intends to begin issuing harsher penalties for the use of this technology, backdated to 9 May 2017. These penalties will still apply if the taxpayer is engaging a third party who offers to manipulate or destroy their sales records.

Whilst we know our clients would not be engaged in this, we believe that you should be aware that this technology exists for your own internal business controls. For example, it could be possible for a sales person to acquire the software to run over your Point-Of-Sales data, remove some sales without a trace, and take the equivalent cash from the register.

For more information on the Government's proposed measures, visit their website.