Commentary

BB/28A/04 VAT—place of supply of trading allowances in greenhouse gas emissions

Part V16 Forms and other HMRC material

BB/28A/04 VAT—place of supply of trading allowances in greenhouse gas emissions

BB/28A/04 VAT—place of supply of trading allowances in greenhouse gas emissions

Business Brief, Issue 28. 26 October 2004

This Business Brief article announces Customs' policy in determining the place of supply of emissions allowances when traded across borders. This follows extensive discussions in Europe on the EU Emissions Trading Scheme (EU ETS) and ensures consistency with other member states, removing the possibility for double or no taxation.

Background

The EU ETS sets out the rules for a scheme in greenhouse gas emission allowance trading within the Community. It is likely to come into force on 1 January 2005. However, in advance of that

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