For issue at 15:00 CET on Thursday 6th September European Cross-Border Intraday (XBID) Solution trades exceed 2.5 million since go-live. Solution is stable and therefore availability of roll back systems has ceased. Nominated Electricity Market Operators (NEMOs) and Transmission System Operators (TSOs) are pleased to announce that the number of trades in XBID since go-live in mid- June has exceeded 2.5 million. The XBID solution has been running with stability and therefore, the Steering Committee has decided, in line with the contractual agreement between NEMOs and TSOs, to remove rollback systems. The XBID solution has been running now for over
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Common energy sector statement – Keeping EU energy and emissions markets protected from VAT fraud beyond 2018
Urgent need to confirm the extension of the derogation for a domestic reverse charge mechanism for electricity, gas and emission allowances in Art. 199a of the VAT Directive Brussels, 4 September 2018 | Missing Trader Intra-Community Value Added Tax fraud remains a persistent threat to the integrity and well-functioning of electricity, gas and emission allowance markets in Europe. Billions of euros had been defrauded from European Exchequers before the Council of the EU decided on the introduction of a derogation from the VAT Directive for electricity, gas and emission allowance transactions. The derogation enables Member States to apply the Domestic
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