noun
-
the practice of importing goods from a country where they are not subject to VAT, selling them with VAT added, then deliberately not paying the VAT to the government
"Collins English Dictionary — Complete & Unabridged"
2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986
© HarperCollins Publishers 1998, 2000, 2003, 2005,
2006, 2007, 2009, 2012
Example Sentences
Examples are provided to illustrate real-world usage of words in context. Any
opinions expressed do not reflect the views of Dictionary.com.
The same shipments of goods are often moved around repeatedly, hence the name carousel fraud.
From
BBC
●
Oct. 24, 2026
Q-Tech are said to have made a fortune by claiming back VAT on false Europe-wide business transactions in a scam known as carousel fraud.
From
BBC
●
Nov. 30, 2012
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Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.
