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VAT taxation of EUAs, CERs and ERUs trading – state of play |
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Friday, 26 March 2010 12:33 |
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If a company trading in CO2 allowances had a subsidiaries in United Kingdom, France, Netherlands, Romania and Poland, only as regards intra–Community, cross–border transactions all the subsidiaries would have an equal level-playing field.
When we take into consideration allowances traded domestically in each of these countries, each of the aforementioned subsidiaries would have to apply different legal regime. Such a situation hardly can be regarded as an acceptable from a common market point of view.
But the odds are that nothing will change in the near future. The new draft of amendment to the VAT Directive (proposal for a Council Directive amending Directive 2006/112/EC as regards an optional and temporary application of the reverse charge mechanism in relation to supplies of certain goods and services susceptible to fraud) provides for the measures, which are only of optional and temporary nature.
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EUAs traded on the spot market considered financial instruments (in Romania) |
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Friday, 26 February 2010 11:25 |
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EU-wide exemption of the supply of emission allowances from VAT while allowing for deduction of related costs is extremely needed for the cohesion of the carbon market.
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Current provisions for VAT treatment of CO2 transfers in the EU |
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Thursday, 08 October 2009 10:25 |
What is current situation in the European Union as regards VAT taxation of transfers of CO2 allowances? The answer is complex.
It should be noted, that four different approaches are being taken across European Union in that matter now.
In the most of EU countries nothing have changed up to now, in some (like United Kingdom, France and Netherlands) in June and July this year were introduced (unilaterally) new measures (different in each of them) and the European Commission also proposes something new – temporary measure in the VAT Directive.
There is of course also a differentiation in VAT treatment of domestic and cross-border transactions.
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