PwC Global indirect tax webcast: Brexit Trade and Cooperation Agreement Part 2

23 February 2021 | 1pm –2pm GMT , 2pm – 3pm CET (Central Europe)

In January we hosted a global indirect tax webcast to discuss the UK EU Trade and Cooperation Agreement (TCA). Over 1200 businesses joined our webcast and we received more than 200 questions. We have continued to be inundated by questions on the TCA. This is clearly an area we are all grappling with and, whilst the TCA eliminates all customs duties on goods which originate in the UK or EU  – representing the most extensive trade agreement on tariffs the EU has ever made, there are still almost as many unknowns as knowns! .Consequently we are delighted to invite you to the next in the series of global indirect tax webcasts : Brexit TCA Part 2!

As discussed in the first webcast, like all EU ‘Free Trade Agreements’, the TCA provides comprehensive Rules of Origin to determine when and how goods originate in the UK or the EU. Other good news comes in the form of bilateral cumulation of origin. This will allow traders to include the value of components originating and processed in either the UK or the EU, when determining origin for the purposes of the TCA, thereby increasing the likelihood of qualification. In brief, these measures will allow businesses to realise substantial duty savings by implementing sustainable and reliable customs procedures. But, practically, it’s not proving easy to obtain the correct documentation to evidence preferential treatment or to ensure that the movement of goods between the EU and the UK can be tariff and quota free. 

Businesses continue to grapple with the issues concerning the new customs border (“Hard Border”)  established between the UK and the EU. For Northern Ireland, whose arrangements between the EU and Great Britain are dealt with in the Northern Ireland protocol, there are more issues to navigate. What constitutes EU/UK origin? How should non-UK origin goods moving to the EU be treated? Is it possible to meet the Rules of Origin criteria for goods in a supply chain from the EU to the UK back to the EU?

At this webcast we will be joined by Customs and International Trade specialists from the UK, EU, Turkey and Switzerland. There will be a short presentation on the knowns and unknowns, the practical issues, and solutions we are seeing in this post-Brexit era. There will then be a live, interactive panel Q&A session.  Please register here. And should you wish to submit a question beforehand, please contact christine.omalley@pwc.com. A recording will be made available post-event. 

We hope you can join us for what should be a lively and informative debate.  

Image source: http://unsplash.com

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