The UK and European Union governments formally adopted a new agreement that will mean major changes to the Northern Ireland Protocol.
The protocol is part of the Brexit deal, which was put in place when the UK left the EU back in January 2021 and sets Northern Ireland’s trade rules. It effectively keeps Northern Ireland inside both the EU’s single market and the UK VAT and customs regime for the trade of goods.
- Customs simplification – Green lanes and red lanes
- The prospect of a ban on Great Britain food items in Northern Ireland has gone for good
- Further progress on medicines
- Online shopping
- Removal of seed and plant bans in Northern Ireland
- VAT and alcohol duties
Source: fiscalsolutions.co.uk
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