Bluenext suspends trading following VAT scrutiny
Trading on environmental exchange Bluenext resumed on June 10 after two days of closure following the French Budget Ministry's announcement that carbon permits would be exempt from value-added tax (VAT).
The exemption was introduced by the French ministry as a result of rumours of attempted 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.
"There have been
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