Vedder Thinking | News Sam Tyfield Comments on EU Lawsuit Over UK Commodity Derivatives Tax in Futures & Options World
21 February 2019
Sam Tyfield, a Partner in Vedder Price's London office and member of the firm's Investment Services and Finance & Transactions groups, recently commented on the European Commission’s (EC) decision to sue the UK over value-added-tax (VAT) rules for commodity derivatives in Futures & Options World, the leading news and data service for the international futures and options industry.
The article explains that on January 24, the EC referred the UK to the Court of Justice of the EU for “extending the scope of a VAT measure which allows VAT derogations for certain commodity markets.” UK lawyers claim that that the decision to sue is extreme. Mr. Tyfield said his initial reaction to the news is that it is a “politically motivated pursuit of the UK at a time when EU27 countries are making concerted efforts to attract firms to their jurisdictions.”
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