The Emissions Trading Scheme – a conduit for fraud

One of the disadvantages of the emissions Trading Scheme launched by the European Union (and it is only one of the many disadvantages), is that the provisions of the Scheme has made Value Added tax fraud rather easy. The authorities have tried to clamp down of Value Added tax fraud but it has not been easy. Although the rules of the ETS are the same across the whole of the European Union each member state has different VAT rates and different tax rules, and it is these differences that fraudsters have been exploiting. Continue reading