(...) The suspects allegedly set up a VAT carousel for the purchase of luxury cars, buying vehicles on behalf of shadow companies controlled by French citizens. During these purchases, no VAT was paid. The cars were immediately sold in France using false VAT declarations at a much lower price, thereby defrauding the French tax authority. The estimated amount of lost tax revenue is over twelve million euros. (...)
US data blurs the picture for bond investors
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The combination of slower growth and nagging inflation is an unsettling mix
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