Displaying items by tag: €125m
Irish Revenue Collect €215m Customs Duty on UK Post-Brexit Goods
In the Revenue’s annual report it confirms a massive increase in red tape now involved in trade with Britain.
Revenue say they collected €215m of customs duty on imports from Britain last year, even before the full impact of Brexit comes into force. That’s equal to nearly half the €526m total of customs duty collected on goods from all other non-EU markets combined last year.
Before Brexit there was no duty owned on imports from the UK and under the terms of the UK’s EU withdrawal Agreement trade between the Republic and Northern Ireland remains exempt.
The Revenue data shows the growing number of barriers to British firms selling into Ireland since Brexit and helps explain why goods imports into Ireland from the UK as a whole have plummeted by 45pc in the past year, while imports from Northern Ireland doubled.
The full impact of the UK withdrawal is still not being fully felt, in significant part because the Britosh government has continually delayed full implementation of the agreement. For more, Independent.ie has the story.
