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Definition of Carousel fraud
1. Noun. The theft of value-added tax from a government by exploiting the way VAT is treated within multijurisdictional trading where the movement of goods between jurisdictions is VAT-free. ¹
¹ Source: wiktionary.com
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1. Noun. The theft of value-added tax from a government by exploiting the way VAT is treated within multijurisdictional trading where the movement of goods between jurisdictions is VAT-free. ¹
¹ Source: wiktionary.com