The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
This guidance note provides an overview of the economic conditions and economic test that may be required by a business seeking approval to use an IP customs special procedure in respect of certain types of goods.
This note should be read in conjunction with the Union Customs Code – Customs Special Procedures – authorisation guidance note.
More information on the UCC can also be found on the European Commission website via the following link UCC – guidance documents .
Specific information on customs special procedures can be found via the following link Special Procedures .
The following link can be used to access HMRC’s import and export manuals HMRC import / export manuals .
The economic test applies to specific goods, and in order to obtain an IP authorisation on these goods, it will be necessary for the applicant to provide evidence showing why it is not possible to use EU produced goods instead.
A full list of the goods that might require an economic test are included in, Annex 71–02 and is reproduced below.
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