The five key changes, as identified by Alan Powell
The five key changes in 2010 affecting excise duties are as follows:
1. Preparation for the Excise Movement and Control System (EMCS)
The biggest change to excise duty procedures since the inception of the Single Market has been preparation for imminent first phase completion of the Excise Movement and Control System (EMCS). The EMCS provided for in the recast horizontal excise ‘holding and movements’ Directive 2008/118/EC is a computer system which will link excise businesses in 27 national administrations across the EU. It replaces the current paper Administrative Accompanying Document (AAD) for intra-EU duty-suspended movements of all excise goods and effectively from 1 January 2011 all traders must use EMCS for the movement of duty suspended excise goods within the EU. UK law to implement EU legislation took effect on 1 April 2010.
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The five key changes, as identified by Alan Powell
The five key changes in 2010 affecting excise duties are as follows:
1. Preparation for the Excise Movement and Control System (EMCS)
The biggest change to excise duty procedures since the inception of the Single Market has been preparation for imminent first phase completion of the Excise Movement and Control System (EMCS). The EMCS provided for in the recast horizontal excise ‘holding and movements’ Directive 2008/118/EC is a computer system which will link excise businesses in 27 national administrations across the EU. It replaces the current paper Administrative Accompanying Document (AAD) for intra-EU duty-suspended movements of all excise goods and effectively from 1 January 2011 all traders must use EMCS for the movement of duty suspended excise goods within the EU. UK law to implement EU legislation took effect on 1 April 2010.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
