Australia's (ATO) is conducting raids on cash-only neighborhoods across Australia, including restaurants, hairdressers and beauty parlours.
The lightning strike was part of a covert war against the black economy, and the ATO strike has generated a gain of 200 million yuan.
The district-to-district inspection was launched at the request of ATO Director Jordan (Chris Jordan) at Cabramatta and Chinatown in Sydney, Glenelg in Sunnybank, Adelaide in Glen Waverley, Brisbane in Melbourne and CBD. in Perth.
The Australian newspaper revealed Monday that Jordan's focus in the urban area includes a number of immigrant neighborhoods in which commercial transactions are widely used in cash.
They are: Sydney Haymarket (Chinatown), Cabramatta and Liverpool; Melbourne Box Hill,Glen Waverley and Werribee; Brisbane Sunnybank; Adelaide CBD and Glenelg; Canberra South Australia; Perth and Gold Coast CBD.
ATO visited Sydney's Chinatown 159 times and found 18.3 million yuan worth of undeclared transactions and 4 million yuan in taxes and fines. Audited Chinatown merchants reported a 27% increase in cash.
ATO visited Melbourne's Box Hill 131 times and found 8 million yuan in undeclared transactions and 1.8 million yuan in taxes and fines. Adelaide had 2.6 million yuan in undeclared transactions, resulting in five hundred and eleven thousand yuan in taxes and fines. Gold Coast received 273 on-the-spot inspections and found 2.2 million yuan in undeclared transactions, fined 342000 in tax bands and fines.
Jordan also pointed out that Sydney's Chatswood is another area with a large immigrant population and will almost certainly be the target of future ATO attacks. "(local merchants will say) I'm sorry, but we don't accept bank cards." Jordan said, "that's strange to me. Why?"
Interestingly, Jordan said ATO is going deep into areas with large immigrant populations and high cash flows, as well as areas where 100-dollar bills are particularly in circulation. "some ethnic groups like to trade $100 bills," he said, adding that some of the cash deals were legal, and some might not. Jordan said: "some of these transactions may be because they do not trust the authorities / or do not trust the banks."
Earlier this year, the federal government's black economic working group revealed that it was investigating the feasibility of installing high-tech chips on 100-dollar bills, or even setting effective dates for them, because they were popular among Chinese.
Australia has 1.6 million small businesses doing cash transactions across 234 industries. However, it is possible for business owners to evade taxes or evade the obligation to pay retirement provident funds for employees only in cash transactions, or mainly in cash transactions.