| answer text |
<p>UK Government policy is that there is no VAT on drugs prescribed by a qualified
professional. HM Treasury keeps all taxes under review but there are no plans to extend
the zero rate to other products at this time.</p><p> </p><p>EU trade policy applies
to the UK until the UK leaves the EU. The “Common Customs Tariff” must be applied
by all EU members to the import of goods into the EU. The European Commission negotiates
trade agreements and manages the tariff.</p><p> </p><p>In March, the Government announced
the Temporary Tariff Regime for the import of goods to the UK in the event of a no
deal Brexit. In October, the Government confirmed this policy. The rates contained
within the Temporary Tariff Regime would apply for a period of up to 12 months. Under
the Temporary Tariff Regime, imports of medicinal drugs will be eligible for tariff-free
access. During this temporary period, the Government will undertake a full public
consultation to inform the UK’s permanent tariff policy.</p>
|
 |
