Businesses Call For Brexit Transition
Brexit is becoming harder for businesses to come to terms with, both those in Britain and beyond. And, even though December saw UK and EU negotiators reaching a tentative agreement on the first phase of talks, in reality this ship has barely left port.
As far as businesses are concerned, the negotiators have only scratched the surface of the issues they are most worried about, like customs, potential trade taxes, VAT, regulatory divergences, product standards, etc., etc.
You would think that regimes in the UK and the EU have so much in common that there would be no need to wipe the slate clean and start again from scratch. But that would be too easy, wouldn’t it? After all, the EU doesn’t do things the easy way – I’m not sure if it even knows how. So bespoke Brexit it will be, at least according to Barnier.
For more information on this, and other topical international tax matters, please visit: https://www.cchgroup.com/roles/corporations/international-solutions/research/global-tax-weekly-a-closer-look