Explanatory note

These Regulations are made under the Taxation (Cross-border Trade) Act 2018 (c. 22).

Regulation 2 amends the definition of “Suspensions of Import Duty Rates Document” in the Customs Tariff (Suspension of Import Duty Rates) (EU Exit) Regulations 2020 (S.I. 2020/1435) to refer to a revised version of this document. This document is revised to extend tariff suspensions that were introduced on 1 January 2021, and on certain items related to the COVID-19 pandemic, until 31st December 2028. The revised document also reflects changes to commodity codes.

Regulation 3 amends Schedule 1 to the Customs Tariff (Preferential Trade Arrangements) (EU Exit) Regulations 2020 (S.I. 2020/1457) to give effect to updated versions of the preferential tariff reference documents and origin reference documents applicable in respect of preferential trade arrangements with various countries or territories. The preferential tariff reference documents update commodity codes to take account of “end of year” changes, update quota rates and volumes in accordance with the terms of the arrangements, and correct errors. The reference documents for Canada update various origin quotas to adjust the quota volumes for 2024 in accordance with the preferential trade arrangement with Canada. The origin reference document for Mexico is updated to give effect to an agreement with Mexico to extend the period of application of the rules of origin concerning EU cumulation.

A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen.

A Tax Information and Impact Note has not been prepared for this instrument as it contains no substantive changes to tax policy.