TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Greenhouse Gases

Tax Briefing Issue 58 clarified that traded greenhouse gas allowances are to be treated for VAT purposes as Fourth Schedule Services. eBrief No. 52/07, reproduced at Section 2.08, clarifies that certain types of allowances originating outside the EU are to be similarly treated.

The inflated list of allowances includes CERs (Certified Emission Reductions), Renewable Obligation Certificates (ROCs), Emission Reduction Units (ERUs), Levy Exemption Certificates (LECs), Assigned Amount Units (AMUs) and Renewable Energy Certificates (RECs).