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.
The European Commission updated a portion of its European Union dual-use export control list to bring it “in line … within the framework” of non-proliferation and export control regimes in 2018, the commission said Oct. 17. The updated list will take effect in about two months if its being approved by the European Council and European Parliament, according to an Oct. 21 post on the EU Sanctions blog. Changes to the list include new entries for discrete microwave transistors, microcomputer software and air-launch platforms for space launch vehicles, the post said, and amendments to entries for underwater submersible vehicles, hydrophones, cryptographic activation tokens, digital to analogue converters and multilayer mask control. The list deletes “technology for gas turbine engine components,” the post said, and contains new mentions of specific lasers and items designed for “civil industry application.”
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.
The United Kingdom on Oct. 21 issued a guidance on advance checks for registered firearms dealers exporting to European Union member states. The guidance provides information to exporters on applying in advance to sell to “regular consignees” if the U.K. leaves the EU without a deal.
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.
In the Oct. 17-21 editions of the Official Journal of the European Union the following trade-related notices were posted:
The European Union’s 2018 move to change the definition of an exporter in its customs legislation is leading to different transition procedures on a country-by-country basis, creating complications for businesses, according to an Oct. 18 post from KPMG.
Nearly 100,000 companies in the United Kingdom have now been automatically registered to use that country’s Transitional Simplified Procedures if there’s a no-deal Brexit on Oct. 31, U.K. HM Revenue & Customs said in a press release. TSP simplifies procedures importing, and make it especially easier for companies completing customs procedures for the first time, but up to now only about 30,000 had applied. Among the benefits of TSP are a six-month period to submit customs declarations and pay customs duties after importing goods from the European Union. “This will prevent congestion at the border when goods enter” the U.K., HMRC said.
The United Kingdom won’t issue any more export licenses on goods destined for Turkey that "might be used in military operations in Syria," U.K. Foreign Secretary Dominic Raab told Parliament on Oct. 15. The policy will remain in place while it conducts a review of the U.K.’s defense exports to Turkey, he said. Raab, who noted that the EU has declined to impose sanctions on Turkey, was answering questions on the U.K.’s policies toward Turkey in light of the country’s military action in northern Syria.