Brexit and its Impact on German Companies


Book Description

Seminar paper from the year 2020 in the subject Economics - International Economic Relations, grade: 1,3, University of applied sciences, Düsseldorf, language: English, abstract: This essay deals with the withdrawal of the United Kingdom (UK) from the European Union (EU) and the resulting consequences for German companies which have business relations with the UK. The process and the reasons for Brexit will be explained chronologically followed by various consequences for German companies. The result of the referendum in June 2016 makes the UK the first country in the history of the EU to leave the association of states. The Brexit process and the associated contract negotiations took several years until the UK finally left the EU on 31.01.2020. However, many aspects – such as trading conditions – have still not been fully negotiated and there will be a transitional period until the end of the year. Since Germany and the UK are major trading partners for each other, there are consequences for German companies in various areas. In addition to the impact on trade, there may also be implications for value chains, employees or even corporate financing.




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


Book Description

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.




The Impact of Brexit


Book Description




Brexit and Beyond


Book Description

Brexit will have significant consequences for the country, for Europe, and for global order. And yet much discussion of Brexit in the UK has focused on the causes of the vote and on its consequences for the future of British politics. This volume examines the consequences of Brexit for the future of Europe and the European Union, adopting an explicitly regional and future-oriented perspective missing from many existing analyses. Drawing on the expertise of 28 leading scholars from a range of disciplines, Brexit and Beyond offers various different perspectives on the future of Europe, charting the likely effects of Brexit across a range of areas, including institutional relations, political economy, law and justice, foreign affairs, democratic governance, and the idea of Europe itself. Whilst the contributors offer divergent predictions for the future of Europe after Brexit, they share the same conviction that careful scholarly analysis is in need – now more than ever – if we are to understand what lies ahead for the EU. Praise for Brexit and Beyond 'a wide-ranging and thought-provoking tour through the vagaries of British exit, with the question of Europe’s fate never far from sight...Brexit is a wake-up call for the EU. How it responds is an open question—but respond it must. To better understand its options going forward you should turn to this book, which has also been made free online.' Prospect Magazine 'This book explores wonderfully well the bombshell of Brexit: is it a uniquely British phenomenon or part of a wider, existential crisis for the EU? As the tensions and complexities of the Brexit negotiations come to the fore, the collection of essays by leading scholars will prove a very valuable reference for their depth of analysis, their lucidity, and their outlining of future options.' - Kevin Featherstone, Head of the LSE European Institute, London School of Economics 'Brexit and Beyond is a must read. It moves the ongoing debate about what Brexit actually means to a whole new level. While many scholars to date have examined the reasons for the British decision to leave, the crucial question of what Brexit will mean for the future of the European project is often overlooked. No longer. Brexit and Beyond bundles the perspectives of leading scholars of European integration. By doing so, it provides a much needed scholarly guidepost for our understanding of the significance of Brexit, not only for the United Kingdom, but also for the future of the European continent.' - Catherine E. De Vries, Professor in the department of Government, University of Essex and Professor in the department of Political Science and Public Administration Free University Amsterdam 'Brexit and Beyond provides a fascinating (and comprehensive) analysis on the how and why the UK has found itself on the path to exiting the European Union. The talented cast of academic contributors is drawn from a wide variety of disciplines and areas of expertise and this provides a breadth and depth to the analysis of Brexit that is unrivalled. The volume also provides large amounts of expert-informed speculation on the future of both the EU and UK and which is both stimulating and anxiety-inducing.' -Professor Richard Whitman, Head of School, Professor of Politics and International Relations, Director of the Global Europe Centre, University of Kent




Brexit and automotive Industry


Book Description

Essay from the year 2021 in the subject Economics - Other, grade: 1,3, University of Applied Sciences Essen, language: English, abstract: As of 1 February 2020, the United Kingdom is no longer a member of the European Union (EU). In addition, the agreed transition phase ended on 31 December 2020. With the agreement on the trade and cooperation treaty of 24 December 2020, the European Union and the United Kingdom have established a new basis for economic relations. Overall, the Brexit negotiations between the UK and the EU were difficult, long-lasting and extremely intensive. In the end, however, both parties succeeded in reshaping the future relationship on both the political and the economic level. Nevertheless, it must be stated that Brexit has had a noticeable economic impact on the UK, the EU and Germany - one of the largest economies in the EU. The British automotive industry in particular has been hit hard by Brexit and is facing an uncertain future. Since 2017, the UK has seen a sharp decline in car registrations. By 2020, the UK vehicle market had lost more than 1 million units (-39.4%), with market share falling to 14.1%. German car manufacturers, on the other hand, are the undisputed leaders within the EU with 2.92 million new registrations (25.2% share). The German automotive industry has coped much better with the effects of Brexit than the British carmakers - due to its international dominance.




Brexit Myth on FTSE and DAX Companies


Book Description

This Thesis aims to evaluate the influence of the Brexit proposal on the economic and trade relations between United Kingdom and Germany by analyzing the fat tail risk of the countries, both at macro as well as micro level. Here, tail risk will indicate the probability of incurring the loss due to the said event, which can be used in estimating the future of Anglo- German relationship and its implication on the global economy.With the help of the thesis, it is analysed that contrary to the popular opinion, the Br-exit proposal didn't increase the probability of losses either in United Kingdom or in Germany. It has further showed very normal returns and risks in the post proposal period as compared to the pre proposal period.As the research aims at analysis, of the influence of Brexit Proposal, the data considered for review is not of high frequency which would provide tick by tick observations. Hence it is difficult to propose a robust model for prediction of the tail risk using the limited data.With globalization and increased inter dependency every piece of news has the potential to hamper the global economy and create economic instability within seconds. In such conditions it is needed to understand the working of markets as well as the influence of political, social and administrative decisions on them. As the work on analyzing this effect has been very less and even if there is none have been directed towards the influence of the Brexit proposal. Thus, this thesis would be throwing some light on the same.




Implications of Different Brexit Scenarios from a German Tax Perspective


Book Description

The decision taken by British voters that the UK should withdraw from the EU will have a significant impact on the future economic relations between Germany and the UK. This note examines the major German tax consequences of two currently conceivable "extreme scenarios" of a future integration of Britain with the EU, namely (1) a complete third country; and (2) a full European Economic Area (EEA) membership of the UK. This note looks at implications for direct taxation: taxation of dividends, taxation of interests and royalties, cross border asset transfers to UK PEs; taxation of controlled foreign corporations (CFCs); exit taxation regarding privately held shares, exit taxation for corporations; and taxation of private individuals. It also examines the implications with regard to indirect taxes: treatment of cross-border deliveries; and, treatment of cross-border services.




Tax Implications of Brexit


Book Description

Tax Implications of Brexit is an essential guide for anyone advising businesses trading in either the United Kingdom or the European Union post-Brexit. In two parts, this title provides an in-depth analysis of the tax ramifications of Brexit in both the United Kingdom and EU Member States, helping to identify immediate and future issues that could be faced post-Brexit, and how to mitigate any risks. Part One features subject-specific chapters which deal with the UK statutory regime after 2020 as well as the impact of Brexit on VAT, customs and excise duties and State Aid legislation. Part Two is split into country chapters dealing with the tax implications in the single jurisdictions (the United Kingdom and EU Member States) for cross-border investments between the United Kingdom and the EU and for UK-EU cross-border reorganisations. This book is essential reading for tax professionals advising businesses trading in the United Kingdom or in the European Union, but also tax managers of those businesses. Tax Implications of Brexit includes contributions from Barbara Belgrano, Conor Quigley QC, Julian Ghosh QC, Kelly Stricklin-Coutinho, Nicola Saccardo, Roderick Cordara QC, Timothy Lyons QC and a plethora of highly respected tax experts from EU jurisdictions.




Brexit and the Future of the European Union


Book Description

Following the British referendum held on June 23, 2016, voters supported the withdrawal of the UK from the European Union (EU) (Brexit), a starting point for the third round of European crisis, following the eurozone debt crisis and the migration crisis. This volume provides an overview of the process and consequences of Brexit for EU member states, with an emphasis on possible future EU-UK relations, and a particular focus on countries in Central and Eastern Europe (CEE). The authors assess the extent to which firms in CEE states have already put in place strategies to counter the new economic reality post-Brexit and identify the strategies that firms are exploiting to better cope with the anticipated implications of Brexit. The book includes a ranking of countries most and least likely to be affected by Brexit; identification of the main determinants of the expansion of companies on the British market and the creation of a typology of strategies used by these companies in the face of Brexit. The book stands out as a complex and multidimensional research work that draws its roots from distinct yet simultaneously interlinked research areas. It will find a broad audience among academics and students across diverse fields of study, as well as practitioners and policy makers. It is a key reference for all those who want to better understand the complex nature of Brexit and its implications, not only for EU member states but, first and foremost, the business environment.