Chief Minister needs to clarify tweet on Import Duty and VAT

Regarding the cost implications of the introduction of VAT, the Chief Minister tweeted that ‘States that levy VAT do not levy import duty’ and also called it a purely speculative piece.

The GSD considers that any examination of the implications of the customs union is valid and deserving of public attention and any independent professional analysis is to be welcomed.
Roy Clinton the GSD Shadow Minister for Public Finance stated: “The Chief Minister needs to clarify his tweet that ‘States that levy VAT do not levy import duty’ as this is simplistic to say the least. The UK has always levied customs duty prior to the calculation and addition of import VAT.

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22-02-21 PANORAMAdailyGIBRALTAR