HMRC has published guidance on the VAT treatment of 'non-compliance carbon credits'. Revenue & Customs Brief 28/2010 entitled 'VAT: liability of non-compliance carbon credits and carbon offsetting services' sets out the VAT treatment of supplies of carbon credits and services provided by carbon offset providers. Broadly the Brief distinguishes between 'compliance market credits' which are subject to VAT and 'non-compliance credits' (including the Verified Emission Reduction) which are not.
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HMRC has published guidance on the VAT treatment of 'non-compliance carbon credits'. Revenue & Customs Brief 28/2010 entitled 'VAT: liability of non-compliance carbon credits and carbon offsetting services' sets out the VAT treatment of supplies of carbon credits and services provided by carbon offset providers. Broadly the Brief distinguishes between 'compliance market credits' which are subject to VAT and 'non-compliance credits' (including the Verified Emission Reduction) which are not.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
