AGW Today: Carbon Credits Now Fraud Targets

Of course, this might be redundant, since the whole AGW movement is a fraud

HM Revenue and Customs (HMRC) has recently uncovered what is thought to be the first attempted UK tax fraud in the carbon emissions trading market.

The tax dodge is a variation of the “carousel” VAT fraud. Carousel fraud, also known as “missing trader” fraud, has typically involved criminals importing goods such as mobile phones and computer chips VAT-free from European Union member states, selling the goods in the UK, including a VAT charge, and going missing without paying the VAT owed to the taxman.

In carbon trading, the fraudster could create a company and buy carbon credits on one of the carbon trading exchanges. The fraudster sells the carbon credit to another trader, or company, charges the counter-party VAT and disappears without paying VAT to HMRC. The buyer reclaims the VAT from the taxman, leaving HMRC out of pocket.

Really, the lengths some people will go to defraud others. Why not just stick with the tried and true method of selling offsets on the promise to plant a tree or bush, one that the carbon offset purchaser will never see and never know if planted? It’s easier, and, unbelievably, legal. Just ask Al Gore, who is one of the worst carbon offenders in the AGW movement, yet makes a fortune off of selling carbon offsets.

In other AGW news

Crossed at Pirate’s Cove

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