Beware these tax scams: Tips to avoid falling prey

It is essential for us to be on our guard so we do not become unwittingly drawn into tax-dodging schemes and end up copping hefty penalties.
It is essential for us to be on our guard so we do not become unwittingly drawn into tax-dodging schemes and end up copping hefty penalties. PHOTO: ST FILE

Take care not to fall prey to tricksters or you'll find yourself on the wrong side of the law

Most of us pay our tax in full and on time but there are plenty of artful dodgers who don't pay up, and that is a problem for everyone because it means less revenue for schools, roads, libraries, and healthcare.

It's not a minor issue either - the taxman investigated 10,726 non-compliant cases in the most recent financial year and recovered about $384 million in taxes and penalties.

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A version of this article appeared in the print edition of The Sunday Times on September 09, 2018, with the headline 'Beware these tax scams'. Print Edition | Subscribe