BREXIT

  • On 29 March 2017 the United Kingdom announced its intention to leave the European Union and the European Atomic Energy Community in accordance with Article 50 of the Treaty on European Union.

    On November 14 negotiators from the European Union and the United Kingdom reached an agreement on the UK leaving the European Union (BREXIT). A Political Declaration was also drawn up establishing a framework for future relations.

    According to Article 50, Section 3, of the TEU, the Treaties shall cease to apply to the State in question from the date of entry into force of the withdrawal agreement or, failing that, two years after the notification, unless the European Council, in agreement with the Member State concerned, unanimously decides to extend this period.

    On 11 April 2019 the European Council decided that:

    - The period stated in Article 50, Section 3, of the EU Treaty, extended by European Council Decision (EU) 2019/476, will be extended once again, until 31 October 2019.

    - The present Decision will no longer apply on 31 May 2019 if the United Kingdom has not held European Parliament elections in accordance with the applicable EU law, and has not ratified the Withdrawal Agreement by 22 May 2019 at the latest.

    When the date for the UK's exit is finally determined and it takes effect, the country will become a "third country." The Withdrawal Agreement envisages a transition period which will last until 31 December 2020. During this time, EU legislation will continue to apply in the United Kingdom in terms of the domestic market, customs union, and EU policies.

    However, if no deal has been agreed by the exit date, the United Kingdom would move straight to the status of a third country, without any special privileges. This situation could have a significant effect on the organisation and/or the logistic flows of economic operators, and therefore it is essential to evaluate this impact and, insofar as it is possible, bring forward the implementation of procedures required.

  • Consequences of Brexit on Customs
  • Consequences of Brexit on VAT