Joint Statement on VAT fraud prevention in the electricity and gas sector

During 2008 and 2009, criminal organisations committed Value Added Tax (VAT) fraud within the EU, causing an enormous amount of damage to the CO2 emissions market and resulting in financial losses for Member States of at least five billion euro (according to Europol sources). This fraudulent activity also damaged the integrity and reputation of the emissions market. As a result of this experience, certain Member States have taken steps to safeguard the emissions market from such fraudulence and have implemented Council Directive 2010/23/EU, introducing a domestic reverse charge mechanism on the trading of emissions allowances, as a tool to combat VAT fraud. ©Thorben Wengert / pixelio ...Zum vollständigen Artikel

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