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European Community

Volume 229: debated on Wednesday 21 July 1993

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To ask the Chancellor of the Exchequer what was the purpose of the agreement made at the ECOFIN meetings of June and July 1992 in relation to zero rates for VAT; and if the agreement is legally binding.

No agreement was made at the ECOFIN meetings of June and July 1992 in relation to zero rates for VAT. The ability to retain our zero rates was agreed at the ECOFIN meeting on 24 June 1991. This subsequently formed part of Council directive 92/77/EEC of 19 October 1992 supplementing the common system of value added tax and amending directive 77/388/EEC on approximation of VAT rates. This agreement is legally binding.