The Spanish tax authorities (“AEAT”) have issued a note on their website indicating some of the
impacts related to customs and special taxes from the 30 th of March, should the United
Kingdom’s leave from the European Union be finally accomplished. What VAT refers to, among
others, it must be stressed that the acquisition of goods from the United Kingdom would no
longer be considered as an intra-Community acquisition of goods, but as an import subject to
VAT.
Also, this new qualification would mean the quarterly submission of an import VAT return,
unless the Spanish company has registered under the special system for monthly VAT refund
(“REDEME“) with its corresponding obligation of electronic information on VAT books in the so-
called “SII”-system.