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Customs and Excise News

FERSA agreement with UK signed by Treasury Minister

Treasury Minister Alfred Cannan MHK this week signed the Final Expenditure Revenue Sharing Arrangement (FERSA) with the United Kingdom Government. The FERSA...
Friday, 27 March 2020

Alcohol Duty – Wine and made-wine, post duty point dilution

Legislation is being introduced which provides for penalty and forfeiture provisions for anyone diluting wine and made-wine after the excise duty point has...
Wednesday, 25 March 2020

Sanctions Notice: Financial Sanctions: Egypt

This news release is issued in respect of the restrictive measures directed against certain persons and entities in relation to Egypt. Following the...
Tuesday, 24 March 2020

Sanctions Notice: Financial Sanctions: Terrorism and Terrorist Financing

The Office of Financial Sanctions Implementation (OFSI), part of HM Treasury, has renwed the final designation of one individual with effect from 23 March...
Tuesday, 24 March 2020

Coronavirus – VAT deferred payments

During a Press Conference at 10 am on 23 March 2020, the Treasury Minister announced the following measures in relation to VAT payments. To assist businesses...
Monday, 23 March 2020

Sanctions Notice: Financial Sanctions: Democratic Republic of the Congo

This news release is issued in respect of financial sanctions imposed against the Democratic Republic of the Congo. Annex I to Council Regulation (EC) No...
Friday, 20 March 2020

Sanctions Notice: Financial Sanctions: Ukraine(Sovereignty and Territorial Integrity)

This news release is issued in respect of measures taken against certain persons, entities and bodies in view of the situation in Ukraine. Annex I to Council...
Thursday, 19 March 2020

Cash Accounting Scheme

The scheme allows you to account for VAT (output tax) on your sales on the basis of payments you receive, rather than on tax invoices you issue. This is...
Thursday, 19 March 2020

Sanctions Notice: Financial Sanctions: ISIL (Da’esh) and Al-Qaida

This news release is issued in respect of the restrictive measures directed against the ISIL (Da’esh) and Al-Qaida organisations. Annex I to Regulation (EC) No...
Thursday, 12 March 2020

Sanctions Notice: Financial Sanctions: Libya

This news release is issued in respect of the asset freezing measures relating to Libya. Annex II to Council Regulation (EU) No 2016/44 has been amended with...
Friday, 6 March 2020
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