EU-UK Trade and Cooperation Agreement

How does the EU-UK Trade and Cooperation Agreement affect value added tax (VAT) matters? This publication offers practical guidance by painting a clear picture of Brexit's impact on the existing VAT and tax framework at the EU level and beyond. The recent EU-UK Trade and Cooperation Agreement contains various clauses impacting value added tax (VAT). Most of the relevant VAT provisions are outlined in the "Protocol on Administrative Cooperation and Combating Fraud in the Field of Value Added Tax and on Mutual Assistance for the Recovery of Claims Relating to Taxes and Duties". The Protocol is accompanied by an "Annex", containing detailed rules and standard forms to be used by the parties# competent authorities for exchange of information and tax recovery assistance. EU-UK Trade and Cooperation Agreement thoroughly outlines and explains the rules on VAT administrative cooperation and tax recovery assistance introduced by the EU-UK Trade and Cooperation Agreement. It helps to deepen the reader#s understanding of the rationale behind the inclusion of these VAT provisions in the Agreement. In addition, these measures are appreciated from a broader perspective by comparing them with other instruments for VAT administrative cooperation and tax recovery assistance in force at the EU level. For practitioners, this publication provides an essential read in the light of the 2020 Brexit developments. Brexit marks a major event in recent history of the EU-UK relationship and each essay included in this book offers indispensable insights on its impact on today#s VAT and tax matters. The authors carefully retrace the various VAT and tax changes that come along with the EU-UK Trade and Cooperation Agreement. Thus, the publication offers a much-needed practical guide for VAT and tax specialists that are confronted daily with the many challenges brought about by Brexit.