Brexit

Tax 

Brexit from the perspective of immigration

On 31 January 2020, the United Kingdom of Great Britain and Northern Ireland (the UK) left the European Union under the terms of the so-called Withdrawal Agreement, which entered into force on 1 February 2020. It states that UK citizens currently residing in the Czech Republic will retain, under meeting certain conditions, their rights in the field of residence, access to the labour market and social security until the end of their lives. 

21. 1. 2021
Tax 

Brexit: Social Security Coordination

Lengthy discussions between the government of the United Kingdom and the European Commission have finally led to the establishment of the Trade and Cooperation Agreement. Among other things, the document includes a Protocol on Social Security Coordination. Starting 1 January 2021, most “new” situations relating to the movement of persons between the UK and EU member states (hereinafter the “EU”) will be treated the same as the “old” situations to which EU regulations on social security coordination were applied and which can from now on be covered by the EU-UK Withdrawal Agreement. 

20. 1. 2021
Tax 

Brexit: Corporate Income Tax

The European Union and the United Kingdom have finally agreed on the terms of the trade agreement and succeeded in arranging rules for mutual relations in various areas. However, when it comes to corporate income tax, it is necessary to bear in mind that the United Kingdom is no longer a member state of the EU (and the EEA). What does the United Kingdom’s withdrawal entail for corporate income tax? And what changes should companies prepare for? 

13. 1. 2021
Tax 

Brexit Update: No-Deal Looming Near

The 11-month transition period, which started by the UK officially leaving the EU on 31 January 2020, is coming to an end, making Brexit the talk of the town once again. The ongoing negotiations about the future trade arrangements between the EU and the UK are not easy and strong political declarations are broadcasted by the media. Unless a deal is struck between the EU and the UK, mutual trade will be regulated only by WTO rules, which means, among other things, that import from the UK to the EU will be subject to “conventional rates of duty”, which are now being used by the EU in case of China, Russia or the USA. 

17. 9. 2020
Tax 

In Brief from International Taxation [November 2019]

A number of states have recently introduced new rules for substance requirements based on which the nexus taxation is derived, among them are Curaçao, the British Virgin Islands, Jersey and Guernsey. The CJEU AG gives its opinion on cases relating to cross-period loss relief, Belgian notional interest deduction and freedom of establishment. The guidance on tax treatment of virtual currency is newly available in the United States. Belgium is preparing for Brexit. The advance tax ruling issued in Luxembourg before 1 January 2015 will be valid only to the end of 2019. A new version of the list of non-cooperative jurisdictions was published by the European Union. 

22. 11. 2019