KEY TAKEAWAYS
VAT CUSTOMS PROJECTS
• Special rules for pre-11 May 2020 contracts and invoices
• Contract reliefs only for governmental bodies and VAT registered businesses
• VAT registered businesses must be able to claim VAT
• Suppliers responsibility to obtain proof
• Review internal policies
• Ensure tariff classification is correct
• Check value for customs is correct
• Consider impact on costs and prices
• Review models and bids in progress
• Is the project exempt from customs duties ? Can duties be reduced ?
• Review short and long-term funding requirements for VAT
• Consider and review contractual protections
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