Brexit and Indirect Taxes: A Not So Splendid Isolation
The year 2020 has been a difficult year for the global economy. For the European Union, in particular, the year began with the challenge to resolve its relationship with the United Kingdom. Under the Withdrawal Agreement, a transitional period was granted until 31 December 2020 for the parties to settle their future relationships, including trade relationships. Although the UK business and financial services sectors are important revenues for the British economy, the lack of a trade agreement will impact the trading of goods even more significantly as customs procedures, tariff quotas and other limitations will apply from 1 January 2021. Without a free trade agreement in place, the European Union and the United Kingdom will trade under the general World Trade Organization rules, which will put UK exporters at a disadvantage compared to other third-country exporters. The United Kingdom will also need to expand its free trade agreement framework with other jurisdictions, including the United States. This webinar provides an overview of VAT, customs and excise duty challenges faced by businesses in relation to Brexit. It also updates viewers on the latest applicable rules and gives insight into the steps businesses may take to set up internal processes that can flexibly handle the ever-changing trade environment.
Topics to be discussed in this webinar include the practical implications for the latest developments with respect to the customs and indirect tax aspects of Brexit.
After following this webinar, participants will be able to:
- identify the legal framework under which trade will occur between the European Union and the United Kingdom from 2021;
- evaluate the necessary steps their organizations need to take to comply with the new legal situation; and
- understand the different policy options for the future of trade between the European Union and the United Kingdom.
Field of study
Who should participate
The webinar is suitable for all tax professionals, including accountants, controllers, in-house tax managers and directors, lawyers, advisers, policymakers and government officials who manage the VAT, customs or excise duty aspects of trading in goods with the United Kingdom.
Course level and prerequisites
This is an intermediate-level webinar. Participants are expected to have a good understanding of international tax law.
Participation in this webinar does not require any preparation.
Interactive webinar - “Group Internet Based” (live webinar only)
To safeguard the interactive nature of the webinar, a limited number of participants will be accepted. Early registration is therefore recommended. During live webinars, it is possible to interact with the presenters via a chat message function. Please note that questions are answered based on relevance, order of receipt and available time. Additionally, participants in the live webinar are invited to answer poll questions or complete short tests. Participants who follow the live broadcast will also have access to the on-demand version for a further 12 months from the live date.
Date of live broadcast: 3 December 2020
On-demand webinars are intended for individual self-study only. Unlike live webinars, they are not open to interactive participation or assistance of a real-time instructor. Access to on-demand webinars is granted for a period of 12 months from the date of registration and/or live broadcast.
Continuing Professional Education
Many accrediting organizations will grant continuing professional education (CPE) credit(s) for an IBFD audio-visual broadcast. It is advisable, however, that you check with your accrediting body as to whether this applies only to live webinars or to on-demand webinars as well.
The International Bureau of Fiscal Documentation (IBFD) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. NASBA CPE credit - 1 (only applicable to live webinar).
Webinar registration details
If you have any questions regarding following the webinar, technical requirements, payments or cancellations, please consult our FAQ.
- Customs aspects of Brexit
- VAT aspects of Brexit
- Excise duty aspects of Brexit
- Zsolt Szatmári
- Eline Polak
- David O'Leary