EXCISE REGULATIONS - NEWS
AUSTRALIA AND UK FREE TRADE AGREEMENT
(A-UKFTA) GOES LIVE
The A-UKFTA went live on 31 May. The new agreement has implications for both importers of goods from Australia and exporters to Australia.
There are reductions in customs duty rates, mostly immediate but some reductions are phased over a period of years, for imported products made in (originating in) the exporting partner country.
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UK ALCOHOL DUTY CHANGES FOR WINES
Top tax tip - Stock up now on still wines but wait until 1 August to buy fizz
The UK Government will implement a new alcohol duty system from 1 August 2023. The incoming system simplifies the current structure, and broadly taxes alcoholic products more the stronger they get. Different rates are going to apply to products between 3.5% abv and 8.4% abv.
EXTENDURE OF EXCISE DUTY REFUND FOR RENTALS WITH DRIVER
With reference to period from 1st of April to 31st of August 2023 a relief will apply to companies supplying – for touristic purposes - coach and bus complying with the Euro 6 Regulation. Companies shall be compliant with the Law 218/2003 regulating the passenger transport activity.