Yesterday UK voters decided to leave the European Union. The decision will have serious implications for multinationals operating in the UK. It’s important to keep in mind, however, that any changes resulting from yesterday’s referendum are months away. Now is the time to take a measured approach to how your business will likely operate in a UK that is not part of the EU, basing your strategy on the probable consequences of yesterday’s vote.
Nearly all countries charge some type of indirect tax on the local sale of goods or services. Understanding your company’s obligations and liabilities with regard to indirect taxation and devising effective tax compliance and mitigation strategies is an important ingredient in the success of an overseas endeavor.