EC warns UK on commodity derivative tax rules

The European Commission has warned the UK that special tax rules for commodity derivatives in the country might be in violation of European Union treaties.

  • By Costas Mourselas
  • 09 Mar 2018

In a letter sent to the UK on Thursday, the Commission expressed grievances related to the zero rated VAT treatment of some commodity spot and derivatives trading on exchanges. 

GlobalCapital understands that Article 394 of the VAT directive is the key point of contention. The article allows member states ...

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