UK:
UK Leaving The EU: Direct And Indirect Tax Implications - The Potential Impact Of A Brexit On Tax
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Following negotiations, a vote in favour of leaving the EU could
have significant implications for direct and indirect tax in the
UK.
Overview
In the short term, a vote in favour of leaving the EU will have
little, if any, immediate impact on indirect or direct taxes. Few
changes are likely to occur while the secession negotiations take
place. Following a negotiation about exit terms, the UK's
approach to taxation could diverge from the current position.
Key findings
The paper analyses the direct and indirect tax implications for
the possible alternatives to membership of the EU:
- For indirect tax, the impact on
Customs Duty; Excise Duty; VAT and Capital Duty, as well as which
indirect taxes would be unaffected.
- For direct tax, relevant EU law; what
would change if the UK left the EU; State Aid rules and Harmful Tax
Practices.
Download the report
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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