Tax Committee

 Chairman: Christoph Probst, Heraeus (Germany)
 Co-Chairman: Kris Boucquez, Umicore (Belgium)

Objectives of the Tax Committee:
To follow and promote a consistent and harmonised implementation of the EU Directive 2006/112/EC on VAT which applies on the trading, hedging and other related precious metals activities in Europe such as:

  • Physical delivery of precious metals
  • Unallocated Metal Weight Accounts (UMWA) without physical delivery of precious metals
  • UMWA with physical delivery of precious metals
  • Transactions without change of ownership of precious metals (which must be differentiated from holding precious metals, and are also referred to as Intra-Community Supplies and Intra-Community Acquisitions).