Remember carousel fraud?
Those scams operating on such vast scales that everyone … looks away?
Bearing in mind, of course, that this is not money held back in the grey economy by people not declaring tax, but rather money looted from the public purse from tax money already paid in.
In other words, the largest daylight thefts in the history of civilisation!
It is now turning its lush attentions to dodgy carbon trading (emphasis added):
Recent figures from consultants New Energy Finance showed that the ETS suffered its first ever drop in trading volumes in the third quarter of this year because the second quarter had been hugely inflated by fraudulent trades going across France’s Bluenext exchange. French VAT rules have now changed.
The European Commission has estimated in the past that EU governments were losing more money to carousel fraud each year than they spent on the Common Agricultural Policy.
Far beyond unbelievable.
The plundering of money on this scale from incompetent governments forces up taxes and risks eroding our entire way of life. It is a systemic threat.
Worse, the very way the EU works makes action against it incredibly difficult, as the nimble looters hop from one sector to the next.
What does it take for our lawmakers to start to move towards simpler, transparent taxes?
And where is all that money actually going?