1-5 of 5 results for subject:Imports
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To ask Mr Chancellor of the Exchequer, what revenue was received by the Exchequer from the total amount of food imported by the UK from other member states of the EU in the last 10 years.
To ask Mr Chancellor of the Exchequer, what revenue was received by the Exchequer from the total amount of food imported by the UK from other member states of the EU in the last 10 years.
This level of detail is not collected on VAT or any other tax return.
To ask Mr Chancellor of the Exchequer, what assessment he has made of the relative competitiveness in terms of differentials in tax treatment of UK refiners and those importing petroleum products directly from European or international refiners and suppliers as opposed to internal imports in the UK.
To ask Mr Chancellor of the Exchequer, what assessment he has made of the relative competitiveness in terms of differentials in tax treatment of UK refiners and those importing petroleum products directly from European or international refiners and suppliers as opposed to internal imports in the UK.
I refer the Honourable Member to the answer given by my Honourable Friend the Financial Secretary to the Treasury on 16 November (PQ 14896 and 14897).
To ask Mr Chancellor of the Exchequer, what plans he has to equalise the treatment of UK refinery manufactured finished petroleum products compared to imported fuels when products leave the UK customs bonded oil storage location in respect of imposition of VAT and duty.
To ask Mr Chancellor of the Exchequer, what plans he has to equalise the treatment of UK refinery manufactured finished petroleum products compared to imported fuels when products leave the UK customs bonded oil storage location in respect of imposition of VAT and duty.
Hydrocarbon oil becomes liable to duty and VAT when it is released for consumption in the UK. This is either: when it is imported; or when it is produced in the UK and delivered for home use from a refinery. Where hydrocarbon oil is imported to an excise warehouse, the duty and VAT is due when the oil is released for home use from the warehouse.
This administratively simple fuel duty system reduces the number of taxpayers and ensures that there is minimal fraud by reducing opportunities for criminals to infiltrate the supply chain. As a result, fuel duty is a large and stable source of revenue for the Exchequer, raising £27.2 billion in financial year 2014/15, with a very low tax gap of less than £100m. Allowing the movement of fuel on which duty and VAT has not yet been paid within the UK would add complexity to the administration of the tax and increase the opportunities for tax evasion. For these reasons the government has no plans to change the fuel duty or VAT point.
One of this government’s key priorities, as we transition to a low carbon economy, is to ensure a secure and resilient oil supply at affordable prices, whilst supporting investment and jobs. Following a review of the refining and import sectors by the previous government in 2014, a package of actions was developed, designed to help improve the operating environment for the refining and import sectors. These actions focus on three areas: a partnership approach with industry; removing market distortions; and tackling regulatory burden.
To ask Mr Chancellor of the Exchequer, what plans he has to apply the UK carbon price floor to electricity imported through interconnectors which is generated by overseas fossil fuel plants; and if he will make a statement.
To ask Mr Chancellor of the Exchequer, what plans he has to apply the UK carbon price floor to electricity imported through interconnectors which is generated by overseas fossil fuel plants; and if he will make a statement.
The Carbon Price Floor is a tax levied on fossil fuels used to generate electricity in the UK only. The Government cannot apply it to imported electricity due to EU excise and energy tax directives. HMT keeps all taxes under review.