Four charged with carbon trading fraud in Belgium


The three Britons were arrested at the end of 2009, while the fourth suspect, from the Netherlands, was arrested yesterday (January 10), in connection with the investigation of €3 million worth of transactions.

The Belgian prosecutors would not disclose the names of those arrested.

Value-added-tax (VAT) carousel fraud occurs when goods are imported VAT-free then sold on to domestic buyers at a price that includes VAT. The perpetrators then disappear without paying the tax to the government.


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