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
Latest Posts in "European Union"
- CJEU Confirms TP Adjustments as VAT-Applicable Services, Requires Supporting Documentation
- Court of Justice Rules on VAT for Intra-Group Services and Evidence Requirements for Deductions
- ECJ Rules Compensation Payments in Transfer Pricing as Taxable Supply for VAT Purposes
- ECJ Rules Non-Transactional Profit Adjustments by Principal Are VAT-Applicable Services in Arcomet Case
- Understanding VAT Implications on Transfer Pricing: Insights from Arcomet Case C-726/23
