VATupdate

Open consultation – Designing the UK trade preferences scheme for developing nations

Consultation description

We want to know what you think about proposed changes to the UK’s trade preference scheme. This is currently known as the UK Generalised Scheme of Preferences (GSP).

In particular, we want to hear your views on:

  • rules of origin requirements for least developed countries (LDCs)
  • reducing tariffs for low income and lower-middle income countries
  • the approach to goods graduation, which suspends reduced rates on some goods
  • the conditions and reporting requirements for low or lower-middle income countries

The new UK preferences scheme (the Developing Countries Trading Scheme) will take effect in 2022.

Source gov.uk

Sponsors:

VAT

Advertisements:

  • VAT
* click here if you have interesting news to share *