5 ms·
Is that fraud or just arbitrage?
by canadiantim 3y ago
Is that fraud or just arbitrage?
- throw_m239339 3y ago> Is that fraud or just arbitrage? It's VAT fraud, so literally tax fraud.
- ysofunny 3y ago[flagged]
- reactordev 3y agoYeah. Loopholes are usually filled with the bodies of those that abused it to the point of being paved over. So even if Chad was winning, he lost, and the ability to play will be removed.
- throw_m239339 3y agoThe article spends at least 4 paragraphs explaining how the scheme works, did you read it? There is no loophole, since what they did was illegal to begin with and they knew it, it's a very basic and common scheme, it's VAT fraud and that type of fraud has existed since VAT exists.
- Recursing 3y agoReminds me of: https://xkcd.com/1494/ https://xkcd.com/1494/
- deleted 3y ago[deleted]
- bsder 3y agoIf you read the article, it's fraud. They ran the exact same fraud as had been run on cell phones. > Criminals imported phones from other EU countries, sold them to consumers with VAT tacked on, pocketed the tax, and disappeared before anyone was the wiser. Or they used carousel schemes, pretending to sell phones through a chain of businesses created for the express purpose of fraud and requesting VAT reimbursements from governments at each point of sale.
- hef19898 3y agoThis way of cheating with VAT is as old as there is a pan-European VAT agreement (the way to declare and manage it, not the amount). And sure as hell, there is always someone to try it. And sure as hell, someone is surprised they ultimately get cought...
- az226 3y agoThey pocketed the sales tax and then never sent it to the government.