EMEA > Compliance Markets & Taxes > UK Supreme Court rejects Citibank’s appeal in £10m EU ETS tax fraud case

UK Supreme Court rejects Citibank’s appeal in £10m EU ETS tax fraud case

Published 10:11 on February 20, 2018 / Last updated at 10:14 on February 20, 2018 / EMEA (Compliance Markets & Taxes, Europe)

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The UK Supreme Court on Friday denied US investment bank Citibank’s request to challenge a lower appeal court’s ruling that British tax authorities were not required to prove the bank was dishonest amid their allegations that Citi knew, or should have known, that its EU carbon trading activities were linked to VAT fraud.
The UK Supreme Court on Friday denied US investment bank Citibank’s request to challenge a lower appeal court’s ruling that British tax authorities were not required to prove the bank was dishonest amid their allegations that Citi knew, or should have known, that its EU carbon trading activities were linked to VAT fraud.


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