The UK Chancellor of the Exchequer had announced the following regarding UK VAT:
- No more tax on electronic books and publications: e-books, e-newspapers, e-magazines, academic e-journals . This measure was to come into force on 1st December 2020. However, due to the current health crisis (covid-19), the date has been brought forward to 1st May 2020.
- No more tax on feminine hygiene products from January 1st 2021.
- The postponed imported Value Added Tax acounting mechanism similar to the reverse charge mechanism will come into force on 1st January 2021.
- It will apply to all imports including imports from the EU
- It will take into account the VAT on the importer’s VAT return.