argomento: News del mese - Diritto Internazionale e Comunitario

Articoli Correlati: U.K. - free ports - advantages

The government is pursuing the “freeports” initiative, “a flagship program” according to HM Treasury, which aims to increase the UK’s attractiveness as an international trading nation following Brexit. Following the publication of its response (the Response) to the October 2020 consultations, the government is seeking offers for the first seven free ports, after publishing the prospectus on November 16 (the Prospectus). A free port is an area within the border of a country, but is considered a separate entity for the purposes of customs activities. The ratio is to reduce costs and bureaucracy, encouraging innovation. There are numerous advantages, including from a fiscal point of view: the relief from land tax which in England and Wales will be valid until March 31, 2026 with the inclusion of a recovery mechanism. 100% exemption from commercial taxes for commercial premises within free ports for new or relocated activities starting from October 2021 for five years from the moment of the first relief. Zero percent of national employer insurance contributions will be available to new employees working in a free port for up to 9 years starting April 2022. A specific Structures and Buildings Allowance, to a rate of 10% of the annual investment cost over 10 years, for companies that construct or renovate structures or buildings for non-residential use in free ports. The contract must be concluded and the structure or property must be in use by 30 September 2026