Inform
LME could face turbulence over VAT dispute
This report is currently unavailable
Report summary
In late January the European Commission referred the UK to the European Court of Justice (ECJ) over concessions offered by the EU to the UK in 1977, which effectively allowed the UK to apply a zero rate of VAT to transactions on specific commodity markets. The dispute centres on the Commission’s view that the UK has overstepped its mark and that VAT on market orders in terminal markets, such as the LME, should be subject to VAT to keep a level playing field with other countries in the EU. As well as the LME, the EU action covers the ICE Futures Europe exchange and the London Platinum and Palladium Market (LPPM). While the outcome of the Brexit negotiations are still clouded by uncertainty, the dispute between the UK and the EU over VAT may have important consequences for the LME.
Table of contents
- LME could face turbulence over VAT dispute
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Asset Report
Lucky Break nickel project
A detailed analysis of the Lucky Break nickel project.
$2,250
Asset Report
Bouchard Hebert copper mine
A detailed analysis of the Bouchard Hebert copper mine.
$2,250
Insight
China economic focus April 2024: what does a strong Q1 mean?
The green economy has become China’s biggest growth driver
$950