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TITLE XIIU.K.SPECIAL SCHEMES

CHAPTER 5U.K.SPECIAL SCHEME FOR INVESTMENT GOLD

Section 3U.K.Taxation option

Article 349U.K.

1.Member States may allow taxable persons who, in the course of their economic activity, normally supply gold for industrial purposes, the right to opt for the taxation of supplies of gold bars or wafers, as referred to in point (1) of Article 344(1), to another taxable person, which would otherwise be exempt pursuant to Article 346.

2.Member States may restrict the scope of the option provided for in paragraph 1.