BNP Paribas Fortis Won’t Claim VAT After Carbon Fraud, Echo Says

BNP Paribas Fortis won’t ask the Belgian government to reimburse about 70 million euros ($92 million) of value-added tax connected to a 2009 emission-permits fraud, L’Echo reported.

The bank bought the permits from a criminal organization that failed to pay the value-added tax to the state, the Brussels-based newspaper reported today.

BNP Paribas Fortis has renounced its right to seek compensation from the government, L’Echo reported, citing bank spokesperson Hilde Junius, who added that the decision won’t affect the bank’s accounts.

To contact the editor responsible for this story: Patrick Henry at phenry8@bloomberg.net