EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations are made under the Taxation (Cross-border Trade) Act 2018 (c. 22).
Regulation 2 amends the table in Schedule 1 to the Customs Tariff (Preferential Trade Arrangements) (EU Exit) Regulations 2020 (S.I. 2020/1457), which sets out the list of arrangements between His Majesty’s government in the United Kingdom and the governments of other countries or territories to which the provisions of those Regulations apply. The following preferential trade arrangement is, by this instrument, inserted in the table in Schedule 1 to S.I. 2020/1457:
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership signed on 8th March 2018, including the Protocol on the Accession of the United Kingdom of Great Britain and Northern Ireland to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership signed on 16th July 2023.
A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen.
This instrument amends S.I. 2020/1457, which is one of a group of instruments covered by a single overarching full Tax Information and Impact Note (TIIN). This TIIN has been published and is available electronically at: https://www.gov.uk/government/publications/the-uks-integrated-tariff-schedule.
An impact assessment setting out the potential economic impact of the UK’s Accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership was published on 17 July 2023 and is available electronically at https://www.gov.uk/government/publications/cptpp-impact-assessment. This publication includes an assessment of impacts on the UK’s nations and English regions, sectors, employment, consumers and businesses as well as the potential impacts on developing countries.