France to combat value-added tax fraud in carbon trading.

17/11/2010 11:21 Renewable

news

A French newspaper announced that their country is going to take measures against the new value-added tax (VAT) fraud in carbon trading and in order to exclude it they will present several measures in a short period of time.

France is now willing to apply a reverse VAT charges for carbon trading, which will transfer the tax pay responsibility from the seller to the buyer, according to Les Echos, a financial daily. Great Britain has already applied this measure on November 1. France will propose this measure at the first cabinet meeting, after President Nicolas Sarkozy restructured his government over the weekend. European prosecutors still investigates a 5 billion Euros tax invasion in carbon trading called "carousel" fraud, also met in at least 11 countries, under the EU emissions trading scheme. This "carousel” fraud, means that a trader imports goods VAT-free from other countries, then sells the goods to domestic buyers, charging them VAT, and then disappears without paying the collected.

Ørsted greenlights 460MW solar and battery storage project

15/11/2019 09:24:00

Ørsted has started the construction of a new 460MW solar power and battery storage project in the US.

<READ MORE

RWE Renewables grows pipeline to 20GW

15/11/2019 09:19:00

RWE Renewables has grown its clean energy pipeline to around 20GW in the first few weeks after completing its acquisition of Innogy and E.on's portfolios, the developer announced.

READ MORE

Daily (14.11.2019): EUAs rebounded by 1% on Wednesday, amidst a lack of auction supply and positive economic data

14/11/2019 11:45:00

Crude oil prices inched higher on Wednesday, stimulated by upbeat economic comments from Jerome Powell, the Chair of Federal Reserve. A drop in U.S. crude stocks and a positive outlook on oil markets from OPEC also supported prices. On this background, WTI futures rose by 0.6% to $57.12 a barrel, while Brent crude edged 0.5% higher at$62.37 a barrel.

READ MORE