EU Takes UK To Court Over Commodity Trade VAT

Law360 (January 24, 2019, 2:37 PM EST) -- The European Commission said Thursday it would refer the U.K. to the European Union’s Court of Justice, saying it failed to apply value-added tax correctly to commodities bought and sold at the London Metal Exchange and other trading venues.

The commission, responsible for ensuring that the bloc’s member nations stick to the law, also gave the country a final warning that rules on share disposal and bad loans put it at risk of legal action before the bloc’s highest court.

The zero rate of sales tax applied to trades in commodities “generates major distortions of competition, to the detriment of other...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS