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Phishing & Vat Fraud In Co2 Permits: Dice In The Eu-Ets Now; Dice In Power Tomorrow, Richard Thompson Ainsworth
Phishing & Vat Fraud In Co2 Permits: Dice In The Eu-Ets Now; Dice In Power Tomorrow, Richard Thompson Ainsworth
Faculty Scholarship
In accordance with Directive 2003/87/EC of October 13, 2003, trade in greenhouse gas emissions commenced in the European Union (EU) on January 1, 2005. The EU-Emissions Trading System (EU-ETS) was born.
The EU has a Value Added Tax (VAT). VAT is a transaction-based levy on all trade in goods and services. Each Member State has a VAT as a condition of membership. Until January 3, 2017 transactions in CO2 permits are taxed as services. After this date they are exempt as financial instruments.
This change in VAT treatment of CO2 permits is directly attributable to rampant fraud in the market. …
Rwanda -- Cutting-Edge Vat Compliance, Richard Thompson Ainsworth, Goran Todorov
Rwanda -- Cutting-Edge Vat Compliance, Richard Thompson Ainsworth, Goran Todorov
Faculty Scholarship
On August 26, 2013 the Ministerial Order on Modalities of Use of Certified Electronic Billing Machine, No. 002/23/10TC of 31/07/2013, was published in the Official Gazette of Rwanda. This Order has set loose a technology revolution in VAT compliance that promises business efficiencies, and revenue enhancements that are only imagined in more developed countries. To open the door to technology Rwanda has taken the traditional digital invoice security model, and connected it to a central security portal at the Rwanda Revenue Authority (RRA). Rwanda will now be able to securely monitor transactions in close to real-time (oversight is on-demand).