Division of a real firm accepting case of evasion over raised tax (7)

Times Cryptic #29051 | 18 Down | 2024-10-18
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I haven't cracked this one yet — but the brilliant team at Times for the Times have:

CO (company, firm) containing all of the outermost letters (case) of EvasioN + reversal of (over) VAT (tax). Brazilian coinage.

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