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Food and drink industry face Brexit VAT bill

The UK government issued a press release which confirmed all imports and exports are to be treated equally. This will mean traders in the EU and UK will have to submit customs declarations and be liable to goods checks at the border in the same way as non-EU importers and exporters are currently required to. Ever since the referendum result in June 2016, the food and drink industry has been raising concerns about Brexit and the impact it will have in placing a burden of additional costs and administration requirements on businesses.

Source: accordancevat.com

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