carousel fraud

car·ou·sel fraud

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Definitions of carousel fraud words

noun carousel fraud 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 3
noun carousel fraud 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. 0

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A common word. It’s meaning is known to most children of preschool age. About 96% of English native speakers know the meaning and use the word.

Most Europeans know this English word. The frequency of it’s usage is somewhere between "mom" and "screwdriver".

This diagram is provided by Google Ngram Viewer

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