Brexit: VAT and transfer pricing impacts for financial services & insurance firms has been saved
Brexit: VAT and transfer pricing impacts for financial services & insurance firms
In the November edition of Finance Dublin, our tax specialists discuss all things Brexit and Transfer pricing.
The UK left the EU (European Union) Single Market and Customs Union on 31 January 2020. This means that the UK and EU must negotiate and agree the terms of their future relationship by the end of the transition period on 31 December 2020.
At this point, fundamental changes will come into play and with increasing rhetoric emerging from both sides the chances of an agreement being reached remain uncertain. While legal and regulatory issues will be key drivers of change, tax considerations are important too and should not be overlooked.
Financial Services and Insurance Businesses (FSIs) trading in, with, or through the UK now have less than two months to plan and take action in preparation for a post-Brexit environment. In particular FSIs who have moved to Ireland as a result of Brexit readiness should consider in particular the associated VAT and transfer pricing impacts of such a move.
Read the full article and other articles from our tax specialists on the Finance Dublin webpage here.
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The full article featured in Finance Dublin on 3 November 2020