tax fraud prevention

Tax fraud prevention involves measures to ensure individuals and businesses accurately report their income and pay the correct taxes owed, avoiding deception or illegal activities. This includes thorough audits, data matching, and monitoring suspicious activity to detect discrepancies. Authorities also implement strict reporting requirements, digital reporting systems, and penalties for violations. The goal is to maintain fairness, reduce revenue loss, and uphold the integrity of the tax system by identifying and addressing fraudulent attempts to underreport or hide income.