It will take time to fully understand the implications Brexit. We remain committed to partnering with our clients and our people during this period of volatility and uncertainty, supporting them as the implications of the vote become clear and helping them work through any necessary changes.
Irish businesses are facing a completely fresh set of challenges as a result of Brexit. The next six to twelve months will be challenging for many companies as they grow accustomed to the loss of barrier-free trade with the UK. Despite obvious challenges, there may be opportunities for some businesses.
Brexit has had a significant impact on EEA based organisations that do business and transfer personal data with the UK. Organisations face additional issues around breach management, managing third parties and dealing with two sets of regulations.
The last-minute Brexit deal holds quite considerable uncertainties and will affect many businesses in still not yet fully foreseeable ways. What are the implications of the over 1,000-page Brexit trade and security deal? Our indirect tax team discuss VAT and indirect taxes after Brexit.
As we begin to emerge from the COVID-19 restrictions, minds inevitably turn to restoring trading to a semblance of normality. Our trade with the UK will not, however, return to what we have long considered normal.
UK VAT refunds – potential Brexit cut-off for foreign traders?
Currently, UK VAT refund claims can be lodged by EU based foreign traders/businesses through the EVR (Electronic VAT refunds) through their local EU Member State tax administrations. In Ireland, this is done using the Revenue Commissioners ROS portal.
A deep understanding of sector-specific environments, issues, and trends is critical to delivering relevant services to our clients, to anticipate and address evolving needs, as well as to capture opportunities.