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
-
Toyota Targets 2021 Launch for V2V Tech in U.S.
Toyota Motor Corp. plans to expand its vehicle-to-vehicle communication technology to the U.S. by 2021 and offer it across most Toyota and Lexus models in the country by mid-decade.
-
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.
-
Feds Probe Another Tesla Crash Involving Autopilot Feature
Federal investigators are looking into another crash involving a Tesla Model S electric sedan that was operating in semi-autonomous mode.