Find out how to pay no import duty and VAT on protective equipment, relevant medical devices or equipment brought into the UK from non-EU countries during the coronavirus (COVID-19) outbreak.
The Foreign Trade Policy is notified for five years with annual supplements generally notified by the Directorate General of Foreign Trade (DGFT). The present Foreign Trade Policy notified in 2015 was valid until 31 March 2020. It was expected to be replaced by a new Foreign Trade Policy effective 1 April 2020.
Many of our clients have been asking for, or are concerned about, the impact of COVID-19 on their Swiss pension funds. In our view, other than some tactical asset allocation decisions, there’s no need for panic.
The short-term will bring some pain through investment returns and lower interest rates, but the challenge for Swiss pension funds remains one for the long-term.
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Update in connection with customs measures implemented by the Spanish government regarding COVID-19 (31 March 2020):
All those submitting VAT monthly returns – including those who do not have a monthly refund authorisation and who are not considered to be ‘starter’ either – will be able to benefit from an accelerated refund of the VAT credit on their current account (with effect from 31 March 2020) under the conditions set out below.
On 26 March 2020, Advocate General Bobek delivered its opinion in case C‑835/18 (SC Terracult SRL), assessing that a taxpayer is allowed to correct invoices for transactions already subject to a tax audit, under certain conditions.
I would like to invite you to our next webinar “PwC webinar – “Sourcing and manufacturing without side effects!” which will be held on 31 March 2020 from 3:00 pm to 4:00 pm and on 1 April 2020 from 9.00 am to 10.00 am.
Information alert regarding supporting measures for tax- and payroll during an emergency situation
The Latvian government has already adopted measures to stop the spread of COVID-19, with procedures in place for financing those measures. A new law on measures to prevent and overcome the national threat and its consequences due to the spread of COVID-19 came into force on 22 March (the “COVID-19 Act”). To address the consequences of COVID-19, a number of amendments have been made to the Commercial Code, the Commercial Pledge Act, the Disability Act, the Maternity and Sickness Insurance Act, the Social Services and Assistance Act, and the Riga Council Dismissal Act.
The period of frustration now lies behind me. During the phase of desperation last week however it was terrible. I couldn’t eat – my stomach was pulling itself together and just the thought of food felt awful. I couldn’t sleep.
PwC Switzerland ITX
Michaela Merz 