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Germany

1 arrested over carbon trading

Police arrested a Swiss national at Vienna airport who is suspected of money laundering and tax evasion in connection with the trading of carbon emissions certificates, prosecutors said on Monday. The move is part of a probe relating to so-called carousel trades made in 2009 and 2010, in which buyers imported emissions permits in one European Union country without paying value-added tax and then sold them to each other, adding VAT to the price and generating tax refunds when no tax had been paid.