Germany, UK arrests 25 in suspected CO2 tax probe
(Reuters) – Germany and Britain have arrested 25 people and are investigating others in connection with suspected tax evasion in carbon permit trading, their respective tax authorities said on Friday.
Britain’s HM Revenue and Customs (HMRC) told Reuters it had arrested 8 people in Scotland and 13 more in the rest of the UK after a search of 81 businesses and residential premises.
Frankfurt prosecutors made three arrests in Germany and one under a European arrest warrant in Britain, where 50 more individuals were under investigation, said a spokesman for the Frankfurt prosecutors office, which has spearheaded the investigation.
The fraud occurs when companies buy carbon permits in one country without paying value-added tax (VAT) and sell them in another adding tax to the price but pocketing the difference for themselves.
“There have been raids and other measures in Britain, Denmark, Belgium, Finland, the Netherlands, Norway, Portugal, the Czech Republic and Cyprus,” the spokesman said.
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