From 1 January, Brexit imposes a series of new controls and checks on trade between the EU and the UK. For example, it is also essential to ensure VAT compliance, once the goods have arrived in the territory of the Union: this implies assessing when a VAT registration is required, with the question of tax representation; if VAT registration is not envisaged, the problem arises of how to recover the VAT incurred. Not considering these issues can lead to low trading profitability and, above all, an increase in the level of exposure to penalties for non-compliance. A company wishing to have a successful UK-EU business relationship must monitor the VAT rules applicable to transactions and the impact on customers.
Source: ipsoa.it
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