Dáil Éireann Debate, Tuesday - 20 February 2018
152. Deputy Micheál Martin asked the Minister for Finance his views on the warning from the European Commission to all European Union, EU, companies regarding the significant border friction and costs after the UK leaves the EU's valued added tax area; and his plans to prepare Irish companies for same. [8183/18]
View answerThe VAT implications for Irish traders of the UK’s departure from the EU will depend on the terms of any EU – UK Agreement concerning the relationship between the EU and the UK, including during any transition period. In the event that traders importing goods from the UK are required to make a customs declaration on importation then VAT will become payable at that time together with any other import duties. However, there is a facility to defer payment of import duties, including VAT, to the middle of the month following importation. The Revenue Commissioners will provide information and support for business as details of any new arrangements are decided.
