Mexican Media Brands
VW Investigated for Tax Evasion Over Bogus CO2 Ratings
Germany could charge Volkswagen AG with tax evasion and possible fraud because it understated carbon dioxide emissions from hundreds of thousands of its cars, thus reducing vehicle taxes ultimately collected by the government.
#regulations #legal
Share
Germany could charge Volkswagen AG with tax evasion and possible fraud because it understated carbon dioxide emissions from hundreds of thousands of its cars, thus reducing vehicle taxes ultimately collected by the government.
The taxes are paid to the government by vehicle owners, not the manufacturer. Lower CO2 levels equate to lower taxes and higher fuel economy ratings. Media reports say prosecutors are focusing their initial investigation on possible wrongdoing by five unidentified VW employees.
VW announced last week it had submitted “implausible” CO2 results for some 800,000 vehicles sold in Europe. The company set aside €2 billion to handle the problem and said it would pay any additional road taxes resulting from the adjusted ratings.
RELATED CONTENT
-
Takata Recalls Another 3.3 Million Airbag Inflators in U.S.
More than a dozen carmakers are preparing to recall another 3.3 million vehicles in the U.S. to replace Takata Corp. airbag inflators that could explode in a crash.
-
Porsche Racing to the Future
Porsche is part of VW Group and it is one of the companies that is involved in putting vehicles on the U.S. market with diesel engines in violation of EPA emissions regulations, specifically model year 2013–2016 Porsche Cayenne Diesel 3.0-liter V6 models.
-
U.S. in No Hurry to Regulate Autonomous Vehicles
The National Highway Traffic Safety Administration says the emerging technology involved in self-driving cars is too new to be tightly regulated.