The UK is scheduled to leave the EU on March 29 2019 (the so called Brexit) and governments are starting to give some recommendations to local companies that trade with the UK as this deadline approaches.
On 1 February 2019 the Dutch Tax Authority has issued a letter highlighting 3 key points which businesses might have to consider in preparation for Brexit.
The exact consequences of Brexit depend on the withdrawal agreement that is currently ongoing between the UK and the EU, however, it is also possible that no withdrawal agreement will be reached.
The precise measures your Company has to take depend on the nature of your business and its activities. It also matters whether you use a customs agent. However, there are 3 things you should do in order to be able to proceed with the preparation for both scenarios:
In addition, make sure you get a complete picture of what you need to do in your specific situation. For example, whether you need further permits and whether other formalities apply to you:
We recommend to follow these guidelines to be sure your business is compliant with all required legislation to avoid the implications of Brexit, weather there is a ‘deal’ or not. Global VAT Compliance can be of assistance in this matter so do not hesitate to contact us.
As always we will keep you updated regarding all VAT news from the Netherlands and around the world.
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