Only 60 days left to get Brexit – Ready!
As of 31 January 2020, the UK is officially out of the EU, nonetheless there is a transition period until changes actually occur. After 31 December 2020, this transition period will end and the UK will be treated as a third-country for the EU, where the rules and regulation which now govern the traffic of goods and services will no longer apply.
Although the EU and UK are attempting to negotiate a Free Trade Deal (‘FTA’) to avoid a ‘hard Brexit’, it is not yet clear if an agreement will be achieved, having major impacts to cross-border trade between the EU and UK.
What does Brexit mean for Amazon’s sellers?
The UK leaving the EU’s Single Market and Custom Union as soon as 2021 starts, will impact Amazon’s sellers so information and anticipation are key to minimize its effects.
Recently Amazon has released a communication which explains what measures they will be taking and advising sellers how they should handle their online stores.
Source: globalvatcompliance.com
Contribution by Apostolos Paradisis / Global VAT Compliance
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