carousel fraud

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

Nearby words

  1. carotin,
  2. carotodynia,
  3. carousal,
  4. carouse,
  5. carousel,
  6. carp,
  7. carp.,
  8. carpaccio,
  9. carpaccio, vittore,
  10. carpal

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