France To Ax VAT From Carbon Permit Trading Cost

Law360, New York (June 8, 2009, 12:00 AM EDT) -- The French government has decided to make carbon emissions permits exempt from the European Union-wide value-added tax, environmental exchange BlueNext said Monday as it temporarily stopped trading in the permits.

BlueNext told members it had opted to halt trading on carbon permits until 8 a.m. Wednesday morning "so our members can make the necessary adjustment to their technical systems and to inform their customers," an exchange spokesman said Monday, confirming the French Budget Ministry's action.

France's emissions registry had also closed Thursday and Friday, Reuters reported,...
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