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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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Relevant VAT Compliance Issues 2022 (Irish Tax Review 2022 Issue 2)

Irish Tax Review Julie Burke Sinéad Leahy Sinéad MacDonnell
2022-07-15
Due to the Northern Ireland (NI) Protocol and the continuation of the free movement of goods between NI and the Republic of Ireland (ROI) on the back of Brexit, movements of goods across the Irish border should continue to be reported on Intrastat returns. To differentiate between Great Britain and NI, all NI VAT numbers are now prefaced with XI instead of GB. Such VAT numbers can continue to be verified on the EU VIES site,... … PVA for imports of goods to Ireland was implemented on 1 January 2021, and as a result, additional reporting boxes on the periodic VAT and ARTD returns were introduced. Although the introduction of PVA coincided with Brexit, it is not specific to UK companies, i.e. it can be applied to imports to Ireland from any non-EU country. Taxpayers should note that operating PVA on imports is not mandatory. However, PVA removes the burden of physically paying VAT at the point of importation...
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Brexit Relocation: Immigration and Tax Considerations (Irish Tax Review 2018 Issue 3)

Irish Tax Review Julie Burke Amanda-Jayne Comyn Aoife Gillespie
2018-09-28
Brexit Relocation: Immigration and Tax Considerations … The only thing that can be said with certainty about Brexit is that the UK wants to leave the EU. How it will do this, what the consequences will be and how it will affect the rest of Europe remain unknown. In fact, the post-Brexit landscape is currently as littered with uncertainties as the constantly changing UK Government policies and Cabinet members tasked with navigating the UK’s exit. This has not stopped the so-called “Brexodus”, which is well under way – immigration has fallen across the whole of the UK,... … For UK citizens in Ireland there is a general expectation that the Common Travel Area (CTA) will be maintained after Brexit – thus protecting the currently unrestricted rights of UK nationals to live and work in Ireland. However, the reality is that maintenance of the CTA (by which Ireland treats UK nationals more favourably than EU nationals) has been part and parcel of the negotiations between the EU and... the UK to date and was expressly provided for in the draft Withdrawal Agreement. If the UK “crashes out” of the EU with absolutely no deal (and no Withdrawal Agreement), concern has been expressed about whether the CTA can continue unaffected post-Brexit. Although unlikely, this arguably raises the risk that UK nationals in an absolutely no-deal Brexit may find themselves treated as “third-country nationals” without an automatic right to live and work for Irish immigration law purposes. … ...seeking to satisfy the “50:50 rule” when applying for or renewing employment permits for their non-EEA staff. The 50:50 rule requires that at least 50% of the employees of such companies are EEA nationals. A company’s ratio may be drastically altered if, post-Brexit, its UK nationals morph into non-EEA nationals for the purposes of determining compliance with this rule. This will affect companies as well as their non-EEA staff reliant on employment permits.
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Central Register of Beneficial Ownership of Trusts: The Irish UBO Register (Irish Tax Review 2022 Issue 1)

Irish Tax Review Julie Burke Aileen Keogan
2022-04-07
It should be noted that there is no Brexit or other derogation for trusts registered on the equivalent UK register. Therefore, a trust registered in the UK under its system of trust registrations may also need to be registered in Ireland.
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Wills: A Client Focus During the Pandemic but Remember to Consider a Broader Estate Plan (Irish Tax Review 2021 Issue 2)

Irish Tax Review Julie Burke Carol Hogan
2021-06-24
The EU Regulation on Succession (No. 650/2012) (“the Regulation”, also known as Brussels IV) came into force in August 2015 and is changing our approach to dealing with issues including jurisdiction and applicable law. Ireland, Denmark and the UK (before Brexit) opted out of the Regulation, but it still influences how Ireland deals with signatory states and how signatory states deal with Ireland.
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The Mysterious World of Valuations (Irish Tax Review 2021 Issue 1)

Irish Tax Review Julie Burke Marie Flynn Sarah Kirwan
2021-04-19
...is that they can be subjective and can also change frequently, depending on both external environmental factors and internal factors based on the asset itself. The year 2020 was a particularly challenging one on the valuation purposes, given the level of uncertainty caused by the Covid-19 pandemic and Brexit, the buoyant recovery and continued growth of the stock markets, the high level of transactional activity, and the disparity caused by unprecedented growth in certain sectors and unprecedented decline in others. 2021 has started in a similar vein, but with hope on the horizon in terms of...
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Legislation & Policy Monitor (Irish Tax Review 2021 Issue 3)

Irish Tax Review Julie Burke Lorraine Sheegar
2021-09-22
Revenue has updated the “Customs Staff Manual on Ship’s Stores – Customs Legislation Branch Dublin” to provide further clarification, in light of Brexit, on the declarations required by Revenue from vessels arriving into the State and the required control measures for dutiable products delivered to vessels as ship’s stores. Minor amendments have also been made to the text where necessary. … The changes are technical in nature. They ensure that the status quo regarding eligibility for the allowance or tax credit is retained after Brexit.
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Corporate Debt Restructuring (Irish Tax Review 2020 Issue 3)

Irish Tax Review Julie Burke Colm O’Callaghan Danielle Grant
2020-09-22
The Covid-19 pandemic, combined with the looming prospect of a hard Brexit, have led to unprecedented levels of uncertainty for most, if not all, Irish businesses. From the shorter-term impact felt on cash-flow (due to the recent lockdown) to the longer-term impact of a likely reduction in demand due to an almost inevitable global recession,...
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“Trusted Trader Status” as a Post-Brexit Solution? (Irish Tax Review 2018 Issue 2)

Irish Tax Review Julie Burke Mark Brennan John O’Loughlin
2018-06-22
“Trusted Trader Status” as a Post-Brexit Solution? … In recent months and in the context of Brexit there has been increasing use of the term “trusted trader status”. This has formed the backdrop to many Brexit editorials, industry briefings and commentaries. However, probably more relevantly, it has been mooted by various sources, particularly EU and UK politicians, as a potential solution to mitigate knock-on border delays resulting from Brexit. This would ensure that post-Brexit trade between the EU and the UK is as frictionless as possible when goods are crossing borders from one customs territory to another. The frequency with which EU and UK politicians have referred to such solutions might lead some to consider that their implementation is straightforward and a matter... of a simple application. However, such commentary belies the reality of the application process. Furthermore, it may lead companies into mistakenly believing that such schemes are a panacea for all of their Brexit border ills. … Below we set out further background detail to trusted trader schemes, explore the commercial realities involved in their implementation today in the EU and assess their viability as a Brexit border solution. … EU, AEO and Brexit
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The e-Commerce Boom: Navigating the Customs and VAT Challenges (Irish Tax Review 2021 Issue 4)

Irish Tax Review Julie Burke John P. O’Loughlin David Lusby Avril McDowell
2021-12-19
From an Irish perspective, perhaps the biggest shift that impacted e-commerce businesses and the overall indirect tax landscape came on 1 January 2021 with the end of the Brexit transition period. This saw the UK reverting to third-country rules for import and export trade with the EU. Given the close trading relationship between Ireland and the UK, this shift has had a particular effect on consumers in Ireland, with UK purchases becoming imports and subject to... … Ireland is in a unique position when compared with the other 26 EU Member States regarding the impact of Brexit. Due to the historical position of unrestricted movement of goods between EU Member States that the EU Customs Union afforded, many Irish online businesses operated a UK-centric fulfilment model. Stock for the Irish market is not generally held in great quantities on the island of Ireland but... … ...VAT rules in July 2021 removed the VAT exemption for goods up to the value of €22, meaning that import VAT is now payable on all B2C e-commerce transactions. Given the prevalence of B2C supply chains between UK suppliers/retailers and Irish customers, and in light of Brexit, this has led to a renewed focus on the overlay between VAT and customs rules in the context of imports. … Brexit, Covid-19 and the introduction of the July 2021 VAT e-commerce package have all contributed to a considerable change in customer spending habits and in the interplay between VAT and customs requirements in the context of the UK–Ireland supply chain. As this article explains, impacted suppliers...
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