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Posted Thu, 30 Mar 2023 09:04:21 GMT by
Don't know if this belongs here; question on how CPTPP, a free trade agreement applies/will apply to VAT on imported goods (normally charged at 20%) from member nations. Don't know if this belongs here; question on how CPTPP, a free trade agreement applies/will apply to VAT on imported goods (normally charged at 20%) from member nations. Would this change VAT on these items or just other import duties if owed? I'm a bit confused, so moderators please don't ban me if i've done something wrong. Thanks.
Posted Thu, 30 Mar 2023 15:50:00 GMT by Customs oldtimer
Hi Trade agreements do not include exemptions from import VAT. The trade in goods elements of the agreements only concern import duties. We have yet to see the exact text of the agreement but it is very unlikely to include any import VAT concessions. None of the existing trade agreements cover VAT. In any case for most businesses who are VAT registered import VAT is reclaimed or accounted for by postponed VAT accounting.
Posted Thu, 06 Apr 2023 11:08:40 GMT by HMRC Admin 32
Hi,

Import VAT will be charged at the applicable rate in the UK. Duty rates are changeable but will need to be checked with Customs. 

Thank you.

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