With the UK officially leaving the EU as of January 1, 2021, transactions with the UK and Monaco will no longer require the filing of European declarations for services and/or trade of goods.
Up until this year, import and export operations have required the filing of specific declarations with the Directorate-General of Customs and Indirect Taxes (les douanes). For exports, exemption from Value Added Tax (VAT) must be justified in accordance with the provisions of article A-52 of the annex to the tax code for turnover. For imports, VAT must be calculated in accordance with the provisions of Article 83 of the same code.
Monegasque companies that have no taxable transactions in the UK and who meet the specific rules can request a VAT refund incurred for the acquisition of goods or services in the UK for the year 2020 via the e-RMB-EU service until March 31, 2021.
However, requests for VAT reimbursement incurred in the UK from January 1 of this year should be sent directly to HRMC.
Olivier Bigard (+377 98 98 81 43) is available for anyone needing further information.