Purchases and sales in the Emissions Trading Market shall mean supplies of services and the chargeability of VAT thereon shall depend on the place where the purchasing customer (Emissions Trading Market Participant) has established his/her business.

Sales to customers holding a VAT identification number in Italy shall be subject to VAT at the standard rate of 21%.

No VAT shall be applied on sales to EU customers who are taxable persons in their own countries. In this case, the reverse charge shall be applied by the customer.

No VAT shall be applied on sales to non-EU customers as per articles 44 and 59, para. 1 a), Directive 2006/112/EC.

For purchases from both EU and non-EU customers, GME shall receive an invoice without VAT and then apply VAT with the reverse charge procedure under article 17, para. 2, DPR 633/72.