If you are a healthcare supplier based in the UK and trading internationally, a new guide from UK Trade & Investment and the Department of Health sets out some issues you might want to incorporate into your healthcare accounting.
For example, for exporters, there’s the question of researching a target country before beginning trading, the different rules that apply within the EU and beyond its borders, and the export certificates and licences you might need.
For importers, there’s the classification of goods, intellectual property rights, tariffs and licences again – not to mention the domestic regulations that may still apply.
In some countries both within and outside the EU, preferential rates have been adopted on medical exports and imports, and these can have a big impact on healthcare accounting.
“For instance, the EU duty on exports of certain medical equipment is zero as a result of the Uruguay Round of Multilateral Trade Negotiations agreed in 1994,” the guide explains.
“Other countries where this deal is in force are the USA, Canada, Japan, Australia, New Zealand and South Korea.”