TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Meeting of the EU-UK Joint Committee on implementing the Brexit divorce agreement

Given the latest COVID-19 developments, the first meeting of the EU-UK Joint Committee set up to implement the Brexit Withdrawal Agreement was held at the end of March via video conference. The UK was represented by Cabinet Office Minister, Michael Gove, while the EU was represented by the European Commission Vice-President, Maros Sefcovic. In the discussion, both parties agreed on the importance for the UK to set out its plans over the coming months with regard to the implementation of the Protocol on Ireland/Northern Ireland. The European Commission also said that there is an urgent need for the UK to present a detailed timetable on how it will prepare for customs formalities for goods moving from Great Britain to Northern Ireland. Additionally, both sides have decided to launch the work of the six specialised committees on the key areas for the implementation of the Withdrawal Agreement. They will now work closely to prepare the next meeting of the Joint Committee, currently foreseen for June.

The progress on Brexit talks is welcome as the EU and UK had to call off their second round of negotiations, originally scheduled to take place in London from 18–20 March 2020, leaving future Brexit talks uncertain. Having tested positive for COVID-19, Chief EU negotiator, Michel Barnier, his negotiation team and his UK counterpart, David Frost were under self-isolation. With only one round of negotiations having taken place so far, the Brexit process has currently been parked due to the COVID-19 pandemic outbreak. Currently no new negotiating rounds have been scheduled, but officials on both sides are said to be in touch.

The UK is currently in a transition period with the EU until the end of the year, 31 December 2020. Read further updates on our Brexit hub: https://www.charteredaccountants.ie/knowledge-centre/brexit/home