In any tax system, a high level of certainty is required for both ease of tax administration and the efficient collection of tax liabilities. Likewise, for companies and their stakeholders, domestic and international tax-related certainty is a fundamental goal. The UK’s EU referendum and potential exit from the European Union represent serious threats to this desired stability. And the biggest challenge businesses will face from a potential “Brexit” will be negotiating the resulting uncertainty.
Effective January 1, 2015, France now permits an optional value-added tax (“VAT”) reverse charge procedure. The announcement follows the successful implementation of the procedure in the Netherlands and Belgium, both of which have enjoyed greater levels of trade.