Carousel Value Added Tax Frauds

Carousel fraud is also called “Missing Trader Fraud” which is the theft of Value added Tax(VAT) from the authority conducted by an organized crime gang who tries to exploit the way VAT is treated in multi-jurisdictional trading where the movement of goods between the jurisdiction is VAT-free. (i.e Exports outside the State – Zero Rated )

Source: gccfintax.com

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