Carbon market VAT scrutiny shifts to Climex

The Dutch government will introduce a 'Reversed Charge Mechanism' in which the buyer will be charged VAT rather than the seller. It will only apply to Dutch based entities trading on Climex from 15 July, in an effort to prevent VAT 'carousel' fraud, where goods are imported VAT-free then sold on to domestic buyers at a price including VAT. The perpetrators then disappear without paying the tax to the government.

Axel Posthumus, the chief executive officer of Dutch carbon exchange Climex, says the

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: