Brexit & Business
Special Weekly Series: 2 of 7

VAT Deferral

The Government has approved proposals by Finance Minister Paschal Donohoe to allow companies postpone paying VAT on goods brought in from Britain. The import VAT will be reclaimed at the same time that it is declared in a company’s VAT return, rather than being charged at the point-of-entry. In a joint-letter to Government, Chambers Ireland, the Irish Exporters Association, Ibec, the Irish Tax Institute and small firms lobbyist ISME have called for a three-month VAT deferral timeframe instead of the bi-monthly plan. For more information on VAT deferral go to Revenue website,

 

Exporting to the UK

If you will be shipping products to the UK after March 29th then we encourage you to register with Cork Chamber for its Export Documentation Service, so that you are Export Ready in the event of a ‘no deal’ scenario. Contact our Export Documentation Manager Imelda@corkchamber.ie

 

Consult Brexit preparedness notes for latest information:

  • European Commission notes here
  • UK Government notes here
  • HPRA Brexit Guidance here
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