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Customs Update – Winter 2023 (Irish Tax Review 2023 Issue 4)

Irish Tax Review Julie Burke Nick Koolen John O’Loughlin
2023-01-02
...third country to the EU, customs duties are levied. The amount of customs duty due depends on a number of factors, such as tariff classification, customs valuation and the origin of the imported products. Origin has become more relevant nowadays for traders importing goods from Great Britain after Brexit. … Trade with the UK and Brexit … Before Brexit, Irish traders could trade freely with UK suppliers and UK customers without any customs formalities or customs duty payments, as the UK was part of the EU’s customs territory. After 1 January 2021, however, the UK has become a third country. This means that imports from... … Since Brexit, companies importing products to Ireland from GB are often faced with additional customs duties. One way to mitigate these customs duties is to review whether these products are of GB preferential origin.
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Policy and Representations Monitor (Irish Tax Review 2023 Issue 1)

Irish Tax Review Julie Burke Lorraine Sheegar
2023-04-13
No. 222 Tax Treatment of Payments Received under the Brexit Voluntary Permanent Cessation Scheme … A new Revenue manual titled “Tax Treatment of Payments Received under the Brexit Voluntary Permanent Cessation Scheme” provides guidance on the tax treatment of payments made in respect of the decommissioning of fishing vessels under the scheme.
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Finance Act 2019: Climate Change, Brexit, Tax Appeals and Other Measures (Irish Tax Review 2020 Issue 2)

Irish Tax Review Julie Burke Paul Nestor
2020-07-07
Finance Act 2019: Climate Change, Brexit, Tax Appeals and Other Measures …  Brexit measures, … Brexit Measures … Several Brexit-related measures are provided for in Finance Act 2019 and, in general, the benefits of the measures will apply during the transition period of the UK’s exit from the EU until such time as the Commencement Orders for the measures, where relevant, are signed into law.
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Customs Update – Autumn 2023 (Irish Tax Review 2023 Issue 3)

Irish Tax Review Julie Burke Paul Rodgers John P. O’Loughlin
2023-09-29
Post-Brexit, the ever-changing customs and trade landscape continues to evolve. The last few months have seen significant statements of intent from the EU, with the publication of a proposed recast of its main customs legislation (the Union Customs Code, or UCC) and the introduction of a radical...
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VAT Cases & VAT News (Irish Tax Review 2023 Issue 1)

Irish Tax Review Julie Burke Gabrielle Dillon
2023-04-13
The appellant also sought information relating to the deadline for claims relating to 2020 and was required to provide additional detail on the reason for the delay in submitting a claim for 2020. The appellant indicated that after Brexit there were issues with the HMRC portal and then the deadline was changed from 30 September 2021 to 30 June 2021, but 31 March 2021 was referred to under the Withdrawal Agreement. This, together with staffing issues, resulted in a missed deadline. Revenue had accepted claims from...
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Policy and Representations Monitor (Irish Tax Review 2023 Issue 2)

Irish Tax Review Julie Burke Lorraine Sheegar
2022-07-07
Brexit: EU and UK Joint Committee adopts new Windsor Framework arrangements … On 27 February the European Commission and the UK Government reached political agreement in principle on the Windsor Framework. The Framework constitutes a comprehensive set of joint solutions aimed at addressing, in a definitive way, the practical challenges faced by citizens and businesses in Northern Ireland....The joint solutions cover, among other matters, new arrangements on customs, agri-f
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Preparing for Pay and File 2023: Tips and Tricks (Irish Tax Review 2023 Issue 2)

Irish Tax Review Julie Burke Lauren Clabby
2022-07-07
Finance Act 2020, which clarifies the interaction of the offshore funds legislation with the migration of Irish securities from the CREST system to Euroclear Bank in March 2021, after Brexit.
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Key Considerations for 2021 Corporation Tax Compliance Cycle (Irish Tax Review 2022 Issue 2)

Irish Tax Review Julie Burke Brendan Murphy Kevin Donovan
2022-07-15
The removal of Ireland’s exemption from transfer pricing documentation requirements for SMEs remains on the sidelines pending a ministerial commencement order. However, the post-Brexit expansion of large businesses into Ireland may give rise to a greater number of companies that exceed the SME exemption thresholds. …  The additional foreign tax credit in relation to foreign dividends under Schedule 24 TCA 1997 no longer applies to dividends received from UK companies post-Brexit. Irish companies receiving dividends from UK-resident companies will now be restricted to claiming double taxation relief based on the UK effective rate rather than the UK nominal rate.
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Customs Update Autumn 2022 (Irish Tax Review 2022 Issue 3)

Irish Tax Review Julie Burke John O’Loughlin Gavin Williams
2022-10-06
With the UK officially leaving the EU, many businesses came to a shuddering start with their customs compliance in the run-up to 1 January 2021. Brexit was a first voyage into customs compliance for many, and the primary focus in the initial months after Brexit was the continued flow of goods, clearing customs and getting products into the hands of customers, all while navigating the challenges presented by the Covid-19 pandemic. In Ireland, the amount of customs duty collected by Revenue swelled from €273m in 2020 to €520m in 2021,... representing a massive 90% increase in irrecoverable costs being absorbed by Irish businesses. Now it can be said that businesses have steadied the customs compliance ship and are steering into the new reality of post-Brexit trade. As the fog clears, many are recognising the potential tax savings achievable with effective and timely customs management. … The removal of the VAT exemption for goods imported to the EU with a value of €22 or less came into effect from 1 July 2021. This, combined with Brexit and a surge in online e-commerce transactions since the start of the pandemic, contributed to the volume of customs declarations processed by Revenue rising from just over 1m in 2020 to over 29.8m in 2021., Of the declarations processed, 27.1m were import declarations. Throughout 2021 we saw businesses encounter difficulties when coming to terms with new customs formalities between the EU and the UK. Most businesses had put in significant work into being “day 1 Brexit-ready” and ensuring that goods cleared customs after 1 January.
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Customs Update – Winter 2022 (Irish Tax Review 2022 Issue 4)

Irish Tax Review Julie Burke Mark Brennan John P. O’Loughlin
2022-12-21
...import duty. This is interesting to examine further in the context of aircraft. Questions arise regarding whether the returned goods relief provisions apply to aircraft and, if so, what customs declarations are required for export and re-import. These questions have become more pertinent in the context of Brexit. … Brexit and movements of aircraft … The customs status of aircraft is also to be considered in the context of Brexit. What happens, for instance, to aircraft that had been imported to the EU via the United Kingdom and remain based in the United Kingdom? Guidance published by the European Commission before Brexit is instructive and, in summary, indicates that: … Nonetheless, consideration should be afforded to whether returned goods relief provisions could apply, and now in the context of Brexit, multiple factors, such as registration, ownership and base of the aircraft, need to be carefully considered to determine whether importation is required to either the UK or the EU, or both, where the aircraft is moving between the two customs territories. In many cases provisions relating...
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