Strategizing Multinational Tax Risks

As everyone knows, there is alot of uncertainty and doubt about what lies ahead for the UK as they will be leaving the EU, final timeline yet to be determined.

From a tax perspective, the linked EY Global Tax Alert summarily describes foreign exchange issues, alignment with EU court cases and Directives (including country-by-country reporting), ongoing BEPS alignment and conformity, treaty / immigration issues, EU State Aid, VAT and the need for transitional review.

Apart from BEPS, this change will compound the tax (un)certainty of the UK for the near future.

This is an excellent time for legal and operational review of UK operations, ensuring old structures and loans are dissolved, if possible, to mitigate future risks.  All multinationals should align with all stakeholders to face this radical change.  

http://www.ey.com/Publication/vwLUAssets/The_United_Kingdom_votes_to_leave_the_European_Union/$FILE/2016G_01773-161Gbl_UK%20United%20Kingdom%20votes%20to%20leave%20the%20EU.pdfUK