This virtual webcast on the topic of PPT, took place on Monday 16 August 2021.
Whilst PPT is a ‘tax’ topic, several areas of the business could be impacted and therefore we encourage you to share this further in your business with colleagues who could be interested in this topic.
There have been some recent updates regarding the UK's adoption of a PPT which will be effective from 1 April 2022. The introduction of this new tax will undoubtedly affect the need for systems and processes to collate the necessary operational and business data for compliance, pricing, contracts, and supply chains, meaning that you may need to start thinking about your strategy for dealing and complying with the tax and how it impacts your wider packaging strategy.
During this webcast we’ll discuss the proposed rules, and who will be liable to register and account for the tax. And on 20 July the UK Government published draft legislation on PPT for consultation (comments are due by 17 August) concerning the product groups which are to be specifically excluded from or included in the taxable base, and the meaning of the very important term “last substantial modification” which will be central to determining who is liable for PPT. During the webcast we will also gather your comments and questions on this draft legislation.
PPT is also being introduced in Spain and Italy and is expected to be introduced in other Member States in due course, so colleagues from our overseas offices will be available to answer your questions.