From 1 April 2022, Plastic Packaging Tax (“PPT”) will be introduced in the UK. HMRC anticipates that PPT will affect 20,000 UK businesses that are either manufacturing or importing plastic packaging components. It is expected that there will be a projected 40% increase in the use of recycled plastic over the period 2022-2023 compared to current levels, leading to projected carbon savings of nearly 200,000 tonnes in 2022-2023 due to the diminished use of virgin plastic.
Source Deloitte
Latest Posts in "United Kingdom"
- UK to Mandate E-Invoicing for VAT by 2029: Gradual Rollout Planned
- TUC Leader Urges Closer EU Ties, Including Customs Union, to Boost UK Economy and Living Standards
- Navigating Cross-Border VAT: Compliance Essentials for Gibraltar’s Digital Economy and B2B/B2C Risks
- UK Supreme Court Rules on VAT Deductibility for Professional Fees in Share Sale Transactions
- UK Tribunal Rules Personalized Book Services VAT-Exempt as Primary Supply is Book Production
