News from Copenhagen: Denmark rife with CO2 fraud

Scams in many countries are subject to investigation by authorities

Authorities in several countries investigate VAT tax fraud stemming from the Danish CO2 quota register

Denmark is the centre of a comprehensive tax scam involving CO2 quotas, in which the cheats exploit a so-called ‘VAT carrousel’, reports Ekstra Bladet newspaper.

Police and authorities in several European countries are investigating scams worth billions of kroner, which all originate in the Danish quota register. The CO2 quotas are traded in other EU countries.

Denmark’s quota register, which the Energy Agency within the Climate and Energy Ministry administers, is the largest in the world in terms of personal quota registrations. It is much easier to register here than in other countries, where it can take up to three months to be approved.