The Implications of 'Brexit' Under German Tax Law : Expected Changes for UK Businesses, Corporations, and Trusts with Germany-based Owners and Beneficiaries

Download or read book The Implications of 'Brexit' Under German Tax Law : Expected Changes for UK Businesses, Corporations, and Trusts with Germany-based Owners and Beneficiaries written by M. Haag and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In the referendum held in 2016, the British people voted to leave the European Union. Whereas the economic impact of 'Brexit' is being discussed extensively, its tax implications have not yet been the focus. It is obvious that Brexit will end the UK's membership in the Customs Union as well as the UK's participation in the harmonized European system for value-added taxes and excise duties. Less obvious is the impact of Brexit on certain provisions of German national tax law that link preferential treatment to EU or European Economic Area membership: Brexit will change the tax treatment of German-based shareholders and beneficiaries of UK businesses, companies, trusts, and foundations for the worse. This article examines further.