EU takes Britain to top court over commodities tax breaks

24 January 2019 

The European Commission on Thursday took Britain to the bloc’s top court for allegedly breaching rules on tax breaks in commodities trading, just two months before Brexit day.

The commission, the EU’s executive arm, said it acted because Britain has improperly broadened a Value Added Tax exemption to commodities that were not originally covered under decades-old rules.

“The Commission decided today to refer the United Kingdom to the Court of Justice of the EU for extending the scope of a VAT measure which allows VAT derogations for certain commodity markets,” the Commission said.

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Source: 
Mail and Guardian

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