ECJ PRICE ROUNDING CASE
March 1st, 2004
BY KEITH NUTHALLEURO-ZONE telephone utilities should check how they dealt with the transfer of prices from national to the European single currency for price-per-minute rates, according to a preliminary ruling from a European Court of Justice (ECJ) advocate general. Miguel Poiares Maduro advised that under EU law, telecom operators were allowed to round converted rates to the nearest Euro cent, but - crucially - provided this "does not entail a systematic increase in the monetary amounts to be paid." As a result, rates should have been rounded up or down to the ...
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