Dear members and friends,
We are pleased to invite you to our Webinar focusing on Brexit we are holding together with EY.
Regardless of whether the UK leaves the EU with or without any trade agreement, from 1 January 2021 customs formalities will be inevitable; as a result, companies will face new or increased (financial and administrative) burdens. Considering the limited time at disposal, it is critical for the companies to ensure that they have reached the minimum level of preparation for Brexit which will be necessary for their day-to-day operations to continue smoothly. On our seminar we will guide you through the most burning tasks to be performed by the end of this year via case studies.
The webinar is organised jointly by the British Chamber of Commerce in Hungary and EY Hungary.
We are getting closer to 1 January 2021 each day and the outcome of the Brexit negotiations is still not precisely known.
Nevertheless – irrespective of whether the parties will reach an agreement through the Brexit negotiations – from a customs perspective significant changes are expected from the date when the UK will leave the customs territory of the EU.
Once the current transitional period ends, transactions with UK companies will be subject to the same customs formalities as the transactions with any other non-EU companies and different documentation will be needed to benefit from tax exemption. On the other hand, purchases of goods from the UK will qualify as import transactions, which will be subject to import customs clearances (and additional payment obligations will incur). As a result, the obligations of companies trading with the UK will change on more points, leading to significant administrative burdens and additional costs.
To help the companies in the preparation for Brexit, our seminar would like to highlight the most important tasks / areas that will be crucial for maintaining business continuity with UK entities.
J. Duncan Graham, Chairman, British Chamber of Commerce
Dr. Áron Nagy, Partner, Indirect Tax Services, EY
Attila Fülöp, Senior Manager, Indirect Tax Services, EY
Nikolett Nánási, Manager, Indirect Tax Services, EY
Date: November 25 2020, Wednesday, 14:00-15:15
Please note that the link of the webinar is going to be sent to your email address on the day of the event.