[Global IDT Insights] US to Remove Tariffs on UK Aerospace Exports

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  • Last Updated on 3 July, 2025

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Tariffs on UK Aerospace Exports

Editorial Team – [2025] 176 taxmann.com 1 (Article)

Global IDT Insights provides a weekly snippet of tax news specifically related to Indirect Taxes from around the globe.

1. US to remove tariffs on UK aerospace exports under new trade deal

The United States and the United Kingdom have entered into a deal to enhance bilateral trade relations. As part of the agreement, the United States will eliminate all tariffs on UK aerospace exports, fostering tariff-free trade in civil aircraft products. This move aims to strengthen aerospace and aircraft manufacturing supply chains between both nations.

The deal also introduces reduced tariffs for up to 100,000 UK automobile imports annually and includes future tariff-rate quotas for UK steel and aluminium.

Source – Official News

2. Danish Tax Council clarifies that buyer liable for both VAT and chocolate tax on imports from EU

The Danish Tax Council (Skatterådet) has clarified that a company purchasing goods from a Danish supplier, but collecting them from a warehouse in another EU country under Free Carrier (FCA) terms, becomes liable for both Danish VAT and the chocolate tax upon importing the goods into Denmark.

This applies even if the supplier is Danish, as the buyer assumes responsibility for the transport and importation. Notably, Chocolate tax refers to a specific excise duty imposed by Denmark on certain sugar-containing products, including chocolate, confectionery, and other sweet goods.

Source – Official News

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied