The government has tabled resolutions for a Customs Bill, the ‘Taxation (Cross-border Trade) Bill’, and has now introduced the Trade Bill to Parliament.
The Taxation (Cross-border Trade) Bill will:
HMRC is seeking views on detailed rules set out in draft regulations for operation of the new fulfilment house due diligence scheme, which the government intends to introduce in April 2018. The second Finance Bill 2017 contains primary legislation for the scheme.
The government’s plans for post-Brexit customs, VAT and excise regimes are set out in a new white paper outlining the approach to legislation in the forthcoming Customs Bill.
From 1 January 2018, HMRC will no longer allow insurers to treat their supplies of non-special investment fund (non-SIF) pension fund management services as exempt from VAT.
The Scottish government has asked the UK to amend Scotland’s block grant funding arrangement in connection with the devolution of air passenger duty (APD), to enable Scotland to maintain its highlands and islands exemption under the new air departure tax without suffering a significant drop in re
The European Commission has launched its new EU-wide ‘customs decision system’, to be used by traders applying for customs decisions or authorisations which may have an impact in more than one member state.
The VAT gap across the EU decreased by €8.7bn during 2015 to an overall figure of €151.5bn. As a percentage, this represents a narrowing of the gap by 2.1% to 12.7% in 2015. Actual VAT revenues for the year across the EU rose by 5.8%.