| Frankfurt prosecutors said they have charged a British man with having been a member of a gang involved in fraudulent trading of carbon permits and evading about 58 million euros (43.51 million pounds) of taxes.
The move is part of an investigation relating to so-called carousel trades made in 2009 and 2010, in which buyers imported emissions permits in one European Union country without paying value-added tax (VAT) and then sold them to each other, adding VAT to the price and generating tax refunds when no tax had been paid...............................................Full Article: Source
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