What will a hard Brexit mean for your company's taxes?

The date of March 29, 2019 is fast approaching, but it is still uncertain whether the UK will leave the European Union on that day, and if so, whether it will do so despite the lack of a negotiated agreement that would regulate the transitional rules of the country's functioning in relations with the EU and would standardize the UK's economic presence in the European market after March 29, 2019.

Many politicians, economists and analysts are warning of the consequences of a so-called hard Brexit. In contrast to the so-called “orderly Brexit”, which assumes a transition period in economic relations with the EU, a hard Brexit is an unordered scenario - assuming the automatic transformation of the UK on March 30 this year into a “third country” - an entity outside the EU not bound by EU law.

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