VAT on EU Trade Overview
Imports into EU State from EU VAT is an EU wide tax. For the most part, the VAT rules encountered in the UK correspond to the VAT rules in the rest of the EU. Therefore the VAT rules which apply to importing and ...
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Customs Union Basics
Customs Union The European Union Treaties created a customs union between the member states. It applies to all trade in goods which have monetary value and are the subject of commercial transactions. Goods for the ...
Import Control & Security System EU
Stages of Import There are six stages in the import process by sea or air in respect of imports from outside the EU; the advance provision of information; the report of the arrival of means of transport; the ...
Brexit and Customs Issues
Brexit Risk In the absence of a Withdrawal Agreement, there is a risk that the UK may cease to be a member of the European Union on 29 March 2019 (postponed to 31 January 2020, with a transitional period to effective withdrawal on 31 December 2020) without a transition period. This is a so-called hard Brexit. The ...
Importing / Exporting after Brexit
Brexit Customs Risk After Brexit, the European Union customs laws will no longer apply to the United Kingdom. If there is a transitional period, they will continue to apply until the end of the transitional period. ...
VAT on Goods (Post Transition /Brexit)
VAT and Brexit In the context of a no deal scenario in which the UK became a third country for VAT purposes the following provisions would apply. There is a distinct possibility that even in a no deal scenario, ...
Tariff and Goods Classification Issues I
Classification of goods for tariff purposes It is essential that importers, exporters and their representatives properly classify goods. The failure to do so can give rise to an unpaid customs debt. This may arise in ...
New Trading Relationship Declaration (22 Nov 2018)
Subject Political declaration setting out the framework for the future relationship between the European Union and the United Kingdom Delegations1 will find in the Annex the Political declaration setting out the ...
Cohesion Funds
EU Cohesion Policies A significant amount of EU expenditure is on Cohesion Policies. Cohesion policies have been integral to the EU since the outset. Ireland, in particular, benefited significantly from cohesion ...
Gas Market
Harmonised Market The European Union has made directives with a view to harmonizing the internal markets for natural gas, electricity, and equivalent utilities. The purpose of the legislation is to provide for the ...
Energy Efficiency
General Targets An EU Directive seeks to achieve the Union’s energy efficiency target of 20% by 2020 compared to 1990 levels and to pave the way for further energy efficiency improvements beyond that date. It ...
Faroe Islands
Background The Faroe Islands is archipelago in the North Atlantic, about halfway between Norway and Iceland. It is approximately 320 kilometres from the northwest of Scotland. The population of the Faroe Island is ...
Cyprus
Background A united Cyprus became independent from the United Kingdom in 1960. Greek and Turkish Cypriots had earlier sought respectively to unite with Greece and Turkey. A Constitution was established which ...
Isle of Man & Channel Islands
Isle of Man The Isle of Man is not part of the United Kingdom or the European Union. It is neither a member or associated member of the European Union. It did not take part in the Brexit referendum. It is a crown ...
Gibraltar
Background Gibraltar is a British overseas territory. It was ceded to the Crown of Great Britain in perpetuity by the Treaty of Utrecht in 1713. Gibraltar comprises approximately 5.8 square kilometres of land and ...
EU Associated Territories & Others
Outermost Regions The Special member state territories of the European Union are various territories which for historical geographical or political reasons have a special status within or special relationship with ...
Development of GATT
Origin Originally the IMF and the World Bank were to be accompanied by an International Trade Organisation. The Bretton Woods Agreement made in 1944 proposed the formation of an International Trade Organization to ...
EU Security
The European Union Institute for Security Studies The European Union Institute for Security Studies provides research and analysis on international issues to help the EU develop its foreign and security policy. The ...
Direct EU Payments to farmers
CAP Direct Payments It sets out the rules for direct payments made to support farmers under the EU’s common agricultural policy (CAP). These payments are made on the condition that farmers meet strict rules on the ...
European Regional Development Fund (2014-2020)
ERDF Regulation An EU regulation sets down principles, rules and standards for the implementation of the European Regional Development Fund (ERDF) and the scope of its investment for growth and jobs and territorial ...