The Tax Office claims collapsed hospitality group Virtical accrued $120 million in fake GST refunds to fund its purchase of iconic pubs in Sydney and Melbourne – in what would count as the biggest GST fraud in the country’s history if proven.
Liquidator examinations in the Federal Court on Friday revealed that the Virtical Group owed an extraordinary $203 million to the ATO once $80 million in interest and penalties was included.
Max Mason covers financial crime, courts and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
