Britain's Department for International Trade recently held 130 workshops to help small businesses “continue and increase their trade” after Britain leaves the European Union and plans to launch a “market access database” for traders, according to an Oct. 25 press release. The DIT said it invited “thousands” of small businesses to the workshops to “develop personalised plans” for trade after Brexit, discussing which paperwork businesses need to continue exporting and the impact of Brexit on supply chains. The DIT also clarified changes to regulations and contracts and where to find tariff confirmation, commodity codes and duty rates.
In the Oct. 22-23 editions of the Official Journal of the European Union the following trade-related notices were posted:
The United Kingdom's Department for International Trade updated guidance on its continuity trade agreements with Israel and Switzerland, according to Oct. 24 notices. The updated guidance, which provides details on what the trade deals will cover after a possible no-deal Brexit, includes added details on how the agreements differ from the current European Union agreements.
Great Britain's Department for International Trade updated its guidance for the open general export license for military goods, software and technology, according to an Oct. 23 notice. The changes update contact details for the Ministry of Defense’s defense equipment and support facility, the notice said.
The United Kingdom's Department for International Trade on Oct. 23 released a guidance on its trade continuity agreement with Lebanon and an in-depth policy paper on the implications of the deal. The guidance details what the agreement covers and how it copies elements of Lebanon’s agreement with the European Union. The 28-page policy paper includes more details of the continuity agreement, an analysis of trade between the two countries, information on the number of businesses exporting and importing goods to and from Lebanon, and an explanation of the “potential loss” to Britain if the agreement does not take effect.
Poland will require importers and other buyers to settle tax payments through a split payment mechanism beginning Nov. 1, and could impose “severe sanctions” on violators, according to an October KPMG alert. The payment mechanism will apply to buyers of electronics, fuels, steel, recyclable materials, car parts and construction services, the report said, with some exemptions available. If a taxpayer makes a payment “without the application of a split payment despite such an obligation,” Poland may impose an “additional tax liability in the amount of 30 percent of the tax attributable to the purchased goods or services,” KPMG said. Under the split payment mechanism, which was made mandatory for certain goods in September, the net amount of a sale is transferred to a regular bank account while the amount of value-added tax is transferred to a designated VAT account, KPMG said.
Britain's Department for International Trade on Oct. 22 released an updated report on the country’s trade agreements continuity for after it leaves the European Union. The report provides key statistics about the trade agreements, including the overall value of trade with countries covered by the agreements in terms of goods, services, exports, imports and more. The report also contains a table on continuity of trade agreements that Britain is targeting but has not yet completed.
In the Oct. 17-21 editions of the Official Journal of the European Union the following trade-related notices were posted:
The United Kingdom and Georgia signed a continuity agreement to continue trading under current terms after Britain leaves the European Union, the U.K.'s Department for International Trade said in an Oct. 21 press release. The deal copies the “comprehensive market access for trade” under the two sides’ EU agreement, the U.K. said. “Trading under the terms outlined in the agreement, rather than on World Trade Organization terms, will ensure British businesses and consumers benefit from continued preferential access to Georgia after the UK leaves the European Union,” the press release said.
Britain's Department for International Trade updated its guidance on the United Kingdom’s trade agreements with non-European Union countries in a no-deal Brexit. The guidance includes a list of trade agreements that have been signed and agreements that are still in discussion.