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The crime--also known as missing trader intra-community fraud (MTIC) has sparked a series of court cases and police investigation within Britain, but there has also been a legislative response.
Measuring Britain's trade with the rest of the EU accurately is proving difficult because of the sheer volume of a VAT scam known as missing trader intra-community (MTIC), or "carousel" fraud.
Carousel fraud, also known as Missing Trader Intra-Community fraud, involves goods bought VAT-free from other EC member states and sold by fraudsters at VAT inclusive prices.