Import Guide: Brexit 5 (CASE 11)

Import Guide

START

Denisse Sanchis

Daniel Gómez

Lidia Campos

Ikram Bekhedda

INDEX

POST-BREXIT IMPORT GUIDE

PREPARATION

DOCUMENTS

VAT (IVA)

TRANSPORT

VIDEO

Step-by-Step

6º

1º

7º

2º

3º

8º

9º

4º

5º

Preparation

CASE 11

EU TARIFFS

RX SEAPORT

EU EORI

TARIC CODE

INCOTERM

Documents

cmr

dua

insurance

Info

land

invoice

marine

B/L

PACKING LIST

Info

UK LICENSE

Info

+ info

VAT (IVA)

• Arguably the biggest change for businesses arising from Brexit is that all arrivals and departures of goods to and from the UK will become ‘imports’ and ‘exports’ from a VAT and Customs Duty perspective. Currently, only goods whose origin or destination is outside the EU are considered “imports” or “exports”. The importance of this distinction is that imports attract Import VAT which is recoverable subject to the usual rules on VAT recovery and Customs Duty, which is not recoverable. Crucially, as the Duty is not recoverable this will, unfortunately, represent an additional cost of doing the same business.

• To import to Belgium, we will need to know the VAT rates that will be applied as the goods will come from the UK by ship and land in Belgium, once there the goods will be transported by truck to the Belgian company.

vat rate in belgium

Transport

Denisse Sanchis

Daniel Gómez

Lidia Campos

Ikram Bekhedda