02 August 2016 Navigating Brexit: Tax and legal implications for life sciences companies The people of the United Kingdom (UK) on June 23, voted in a referendum to leave the European Union (EU). This historic decision by the voters of the UK to leave the EU marks a significant change for the UK and EU and will impact other trading partners, such as the US. However, all EU directives and regulations, as well as the treaties themselves, remain in force in respect of the UK until it formally leaves the EU. Therefore, on a legal level, nothing has changed, and it is not expected to do so for the time being. While there is currently much uncertainty as to how the UK will untangle itself from the various EU institutions and what its future relationship with them will be, it is nevertheless important for life sciences companies to understand the potential direct and indirect tax impact of this development and the potential consequences ahead. This EY publication, attached below, provides additional details. Document ID: 2016-1320 |
