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
Latest Posts in "United Arab Emirates"
- Guide to Using FTA’s Maskan Supplier Portal for VAT Refunds on New Homes
- UAE eInvoicing Guide: Key FAQs for Business Compliance and Transition
- UAE Simplifies VAT Recovery Documentation for Imported Services Under Reverse-Charge Mechanism
- Comprehensive Guide to UAE Free-Zone Business Compliance Under Ministerial Decision No. 229 of 2025
- UAE E-Invoicing Mandate for VAT Businesses Begins July 2026 with Phased Rollout
