Brexit: Change in VAT on horse exports to the UK

Published 2020년 12월 13일

Tridge summary

Starting January 1, 2021, the United Kingdom's departure from the European Union will impact horse sales. The National Association of Purebred Spanish Horse Breeders has highlighted the new procedures, explaining that horses imported from the EU must have their customs documents submitted within a month by the buyer. If the buyer fails to submit the required document, the seller will be responsible for paying a 21% VAT on the sale price. To prevent this, sellers will need to issue invoices with 21% VAT and then adjust them once they receive the necessary documentation from the buyer.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

As of next January 1, except for a last minute agreement, the United Kingdom ceases to belong to the European Union and the tax treatment of third countries is applied. Horse sales are now VAT exempt, provided they travel to the UK. The National Association of Purebred Spanish Horse Breeders summarizes the main aspects to take into account: - Horses must be taken to customs within one month of being made available, where the corresponding document will be presented by the purchaser export customs office. - This document will also include the name of the supplier established in the EU, who is the exporter with his tax identification number and the reference to the invoice issued by him. - The buyer must send said supplier a copy of the document filled out by the customs office of exit. That is, it is necessary to prove that the horse has been exported within a maximum period of one month since it has been delivered and invoiced through the possession of the DUA (Single ...
Source: Castilla

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