Every VAT/GST allows missing trader fraud. The fraud is simple, and can be simply prevented (with technology). The fraud arises when a business makes a purchase without paying VAT, collects VAT on an onward sale, and then “disappears” without remitting the tax. Missing trader fraud is common...

Digitalization and emergence of new technologies including Artificial Intelligence has shaped new organizational principles for the functioning of economies and societies globally. Technology has also changed the landscape for taxation and interactions between tax administration and taxpayers....