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What is ‘tax fraud’?
When people or businesses deliberately try to hide their money to escape paying tax, it is called ‘tax fraud’.
What is ‘tax evasion’?
When people cheat to pay less, this is called ‘tax evasion’.
Total losses are estimated to be up to €1 trillion a year in the EU!
(you could buy 40 000 000 cars with this money)
Tax fraud and tax evasion limit a country’s ability to raise money and implement economic and social policies. That could mean cuts in funding for public services such as health care or education, and a slower economy.
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