Quarterly report pursuant to Section 13 or 15(d)

VAT Receivable

VAT Receivable
3 Months Ended
Mar. 31, 2023
Vat Receivable  
VAT Receivable

Note 6. VAT Receivable


On January 1, 2021, VAT rules relating to imports and exports between the UK and EU changed as a result of the UK’s departure from the EU. For the three months ended March 31, 2023 and the year ended December 31, 2022, the Company recorded a receivable in the amount of approximately $510,000 and $433,000, respectively, for amounts available to reclaim against the tax liability from UK and EU countries.