Friday, December 11, 2009

European carbon credit fraud problem solved

As previously noted, criminals have figured out how to rort European taxes of carbon credits. There is a nvoel approach to solving the problem, however:

The way France and the UK solved the problem was by in effect giving up on attempting to collect tax on this type of product. France made carbon credits exempt from VAT while the UK reduced the VAT rate on carbon credits to zero.

This is commonly referred to as putting a difficult problem in the "too hard" basket.


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