- The Court of Justice of the European Union will decide whether forward transactions with CO2 emission allowances as underlying instruments are VAT exempt if settled only in cash
- The Supreme Administrative Court asked the CJEU whether cash settled transactions without transfer of allowance ownership qualify for VAT exemption
- Tax authorities believe that the mere possibility of delivering emission allowances is sufficient for VAT exemption
- The dispute centers on whether VAT exemption depends on the legal contract structure or the actual cash settlement method
- The fundamental question is what determines exemption eligibility in forward transactions involving greenhouse gas emission allowances
Source: podatki.gazetaprawna.pl
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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