The impact of Brexit - deloitte.com · liabilities) Customs knowledge Need for (increased) knowledge on how customs works, what the requirements, risks and liabilities are, which

The impact of Brexit

Are you ready?

Webinar, 28 February 2019

2© 2019 Deloitte Belgium.

Agenda for today

Introduction

Daan De Vlieger

Customs & Excise

Daan De Vlieger, Global Trade Advisory

VAT

Jan Vrijsen, Indirect Tax

Legal

Jasmijn Verraes, Laga

Corporate Income Tax

Eric von Frenckell, Global Business Tax

HR

Filip Van Overmeiren, GES

Q&A

Webinar 28 February 2019 | The impact of Brexit


Customs & ExciseDaan De Vlieger



Belgium

Calls for action


• An emergency law is being drafted on Federal Level, including among others:

‒ Hiring of new customs agents;

‒ Hiring of new FAVV – AFSCA agents (phytosanitary controls);

‒ Specific customs documentation for UK goods

‒ (…)

“De federale regering ‘bereidt zich voor en neemt concrete maatregelen’ om voorbereid te zijn op een eventueel Brits vertrek uit de Europese Unie zonder akkoord” ─ Charles Michel

“Douanediensten schakelen komende dagen versnelling hoger om onze Belgische bedrijven zo goed mogelijk bij te staan” ─ Alexander Decroo

Hard Brexit• Est. GDP-loss

Belgium of 2.35%*

• Est. Job-loss Belgium of 42 000

* Study by the Catholic University of Leuven “De impact van Brexit op de Vlaamse economie”

Federal level

• Flemish Brexit Preparedness-exercise

‒ No Emergency Decree is required on a Regional Level

‒ Some adjustments needed to regional legislation (ex. on dual use and export controls)

“Een Brexit zonder akkoord brengt maar liefst 28.000 Vlaamse jobs in gevaar. (…) Met het Brexit Actieplan willen we onze Vlaamse bedrijvenhelpen om zich op deze nieuwe situatie voor te bereiden.” ─ Geert Bourgeois

• Brexit Action Plan

Regional level

• Hans Maertens (Gedelegeerd Bestuurder Voka)

• “We stellen vast dat de grote bedrijven en de bedrijven die heel veel export doen met het VK voorbereid zijn. Maar er situeert zich zeker nog een probleem met de kmo’s, die wel zaken doen met het Verenigd Koninkrijk maar niet vertrouwd zijn met de douaneformaliteiten”

• Bedrijven en overheden moeten nu dringend alles in het werk stellen om zich voor te bereiden op een chaotisch no-deal scenario

• Other calls for action from: FEVIA (Federatie Voedingsindustrie), TLV(Transport & Logisitiek Vlaanderen), Agoria, etc.

Professional associations

https://feb.kuleuven.be/VIVES/publications/policy_papers/Beleidspapers/2017/2017-11-policy-paper-VIVES

https://www.vlaanderen.be/nl/nbwa-news-message-document/document/090135578026bfd1

https://www.ewi-vlaanderen.be/sites/default/files/bestanden/actieplan_brexit_de_weerbaarheid_van_vlaanderen_verhogen.pdf

https://www.voka.be/nieuws/iedereen-moet-zich-nu-voorbereiden-op-chaotische-brexit


EORI-number

• A company with a UK EORI-number, can apply for a EU EORI-number in BE, if it has any activity in BE

• A company that fulfils customs formalities in the UK (ex. DDP-sales) requires an EU EORI-number, a BE company will require a UK PE or UK fiscal representative

40% increase in EORI-requests (80 to 90 requests per day)

Actions BE customs

• BE customs sent 20 000 letters regarding the official assignment of EORI-numbers

• Only 4 150 responses (67% OK) in total

• Only 1 000 responses (15% OK) from the top 5 000 companies trading with the UK

• Call centre established to contact (in first instance) the remaining 4 000 companies from the top 5 000

Extra personnel

• 150 customs officials should start at the end of March 2019

• 240 extra customs officials should start at the end of 2019

Authorisations

• BE customs is considering providing some flexibility in granting certain Authorisations (ex. Vergunning Laadplaats), without prior audit requirement.

Belgian customs authorities

Calls for action



Contingency Plan of 18 December 2018

Package of 14 measures in a limited number of areas where a "no-deal" scenario would create major disruption for citizens and businesses in the EU27. These areas include financial services, air transport, customs, and climate policy, amongst others.

Customs and the export of goods

In a no deal scenario, all relevant EU legislation on the importation and exportation of goods will apply to goods moving between the EU and the UK. The Commission adopted the following technical measures:

• Delegated Regulation to include the seas surrounding the UK in the provisions on time-limits within which entry summary declarations and pre-departure declarations have to be lodged prior to leaving or entering the Union's customs territory.

• Proposal for a Regulation to add the UK to the list of countries for which a general authorisation to export dual use items is valid throughout the EU.

EU level

Calls for action


EU Customs territory – post Brexit

Delegated regulation“In case the Withdrawal Agreement is not ratified, as of the withdrawal date, goods arriving in the customs territory of the Union from the United Kingdom will be subject to the obligation to lodge an entry summary declaration and goods leaving the customs territory of the Union for a destination in the United Kingdom will be subject to the obligation to lodge a pre-departure declaration. (…)”

http://europa.eu/rapid/press-release_IP-18-6851_en.htm


Vendor/customer customs responsibility & liability distribution

Both at vendor and customer side, contracts will need to be evaluated and modified where possible to take into account customs aspects (responsibilities and liabilities)

Customsknowledge

Need for (increased)

knowledge on how

customs works, what the

requirements, risks and

liabilities are, which

options exist, etc.

Customs preparedness


Actions

• In-house customs

courses

• Plenary customs training

program

• Web-based learning

offering

Actions

• Contract review

• Drafting customer /

vendor customs

responsibility / liability

clauses

01 02

Actions

• Export/import clearance

analysis incl.

recommendations on

best setup (broker / in-

house / hybrid / system

supported / …)

• Export/import process

design (incl. Desmat

offering)

• Broker communication

structure (instruction

sheet, etc.)

Export/Import clearance

Export/import declarations will need to be filed, possibly both at UK and EU side

03

Actions

• TARIC 10 digit

classification review and

determination incl. rates

• Economic origin review

and determination

• Customs value

determination (which

transaction, etc.)

• Customs master data

process design

• Apply for / modify /

relocate customs rulings

Customs master data

In order to have a compliant and efficient customs clearance process, certain critical master data elements will need to be available and under control

04

Actions

• PLDA setup and training

• Technology business

case / requirement

mapping

• Technology vendor

selection

• SAP GTS implementation

• Document retention

technology

implementation

System support

Electronic customs clearance can take place in a number of manners (manual self-filing, web portal, fully automated, etc). Other system solutions are available too

05

Actions

• Apply for EORI

registration

• AEO trajectory

Registrations and licenses

In order to be active as imported and/or exporter, certain registrations and possibly also licenses need to be in place

06


Special customs procedures

The use of special customs procedures can bring duty saving and cash flow benefits

Simplifications

The customs clearance

process can be simplified

in a number of manners,

addressing the way

declarations are filed,

inspections are conducted,

etc.

Customs preparedness


Actions

• Simplification relevance

and qualification

assessment

• Apply for EIDR

• Apply for globalisation

• Apply for (L)LP

• Apply for approved

consignor / consignee

Actions

• Special procedure

business case

• Apply for + set up

Bonded Warehouse /

IPR / OPR

• Advise on use of transit

procedure

• Advise on use of end-use

07 08

Actions

• Preferential origin

analysis

• System support (GTS

module, automated

supplier declaration

management)

• Apply for / modify

approved exporter for

origin license

• Preferential origin

determination process

design

Preferential origin management

Both at UK and EU side. No more use of vendor declarations. Now invoice declarations / no preference to be claimed between EU and UK

09

Actions

• Broker identification and

selection support

• Drafting broker policy

• Broker management

process

• Contract review

• Drafting broker customs

responsibility / liability

clauses

Broker selection and management

In case a company opts to make use of the services of a customs broker for its clearance activities, such broker needs to be selected based on cost and quality criteria. Also good working agreements with the broker need to be in place

10

Actions

• Regulatory requirement

assessment

• License application

• GTS trade compliance

module implementation

• Governance model

Regulatory requirements

Export/import transactions require the fulfilment of other regulatory requirements next to customs clearance formalities/payment of duties (often depending on the nature of the goods). Examples: REACH, CITES, export controls

11

Actions

• EU tariff suspension

requests

• Customs valuation

approach / optimisation

• Customs management

processes

Other

Other aspects, such as overall customs management, efficient and compliant customs valuation and possible application of reduced rates, need to be taken into consideration too

12


VATJan Vrijsen



VAT impact

Cross border flow of goods


Intracommunity

deliveries /

acquisitions

imports / exports

Market cost

Compliance cost

Lead times

Operational cost

01

02

03

04Import declaration

Export declaration


Reduction

• Customs warehouse / VAT warehouse• Inward processing (actieve veredeling)

Post Brexit

• Import duties payable in BE + DE• Prefinancing of import VAT in DE

Post Brexit

Goods are sent from the UK to BE and GermanyPart of goods are sent from BE to the US

Market cost



Other transactions with market cost impact• Transportation costs (use & enjoyment)• Etc.


Reduction

Building stock pre Brexit (subsequent sale in UK?)

Post Brexit

NO simplification!BE company has to apply for a UK VAT number

Post Brexit

Goods are sent from BE to the UK customer (call- off stock regime) = simplification rule = no vat registration in UK

Compliance cost



Other transactions with compliance cost impact • Triangular / chain transactions • Tolling services • Delivery of goods with installation• Distance sales

VAT-ID


Reduction

Applying for AEO certification could reduce lead times

Post Brexit

No longer free movement of goods -> possible inspection of goods at border

Post Brexit

Goods are imported in BE or UK -> customs formalities and long lead times

Lead Times



Other possibilities• CFSP (customs freight simplified procedures)• Transitional Simplified Procedures • Build stock pre Brexit

VAT-ID


Operational costs

Cross border transactions of goods


Change of ERP system• Modification/creation tax codes• Check of direction VAT declaration

Registration obligations • EORI number• VAT registration in UK

(in case no ‘simplification’ rule)

VAT compliance• No ESL/intrastat• Change of VAT refund procedure UK VAT 2018

• No check of UK VAT n° in VIES system (print out VIES confirmations)


LegalJasmijn Verraes



Brexit Readiness | Contracting

Legal


Step 2

Mapping of the contract structure

Step 1

Mapping of the parties

Step 3

Screening of the contract

Timing of Brexit

taking place

Applicable contracts

Ad hoc advies

Own templates

• Supply

• Purchase

• Reseller

• Quality agreements

• …

Templates counterparty

• No uniformity | case by case

No underlying contract

• Own terms & conditions (sale/purchase)

• Terms & conditons counterparty

Often: Combination of all

hoc advies

Contract impact

No Force Majeure

Impacted clauses

Impacted clauses

Intellectual property

Data protection | GDPR

Pricing | Fluctuations

Standards | Norms

(e.g. CE-labels,

packaging)

Delivery

Territory

EU funding

Applicable law |

Competent court

Sectoral regulations

Duration | Timings

Strategy


Brexit Readiness | Contracting

Legal


Step 2

Mapping of the contract structure

Step 1

Mapping of the parties

Step 3

Screening of the contract

Timing of Brexit

taking place

Step 4

Actual renegotiation

Renegotiate existing contracts

Future contracts

Urgency:

• Hard Brexit vs. Soft Brexit (2020)

Method:

• Depending on time frame

• Single general addendum vs. Case-

by-case renegotiation

Strategy


Corporate income taxEric von Frenckell



• The UK’s starting position is to adopt all existing EU law into UK law

• This will create stability until and if the UK decides to change its tax laws in the future

• Existing tax reliefs and exemptions currently applicable to transactions between the UK and Belgian entities (and entities from other EU Member States) might cease to apply if and when the UK decides to amend its legislation

Meaning that initial stability could potentially be followed by loss of existing tax reliefs and exemptions

UK’s starting position



UK’s starting position in case of hard Brexit


When the Directives no longer apply:

• Dividends or other profit distributions paid between EU entities and the UK may incur a withholding tax (WHT) cost

• Interest or royalties paid between qualifying EU entities and the UK may incur a WHT cost

Reliance will need to be placed on the Double Tax Treaties, leading to:

• Potential WHT cost• Compliance obligations (e.g. 276R or 276 Int.Aut.)

Dividend distributions between UK and Belgium will be unaffected:

• UK domestic law does not impose a WHT• Belgium extended the application of the Parent-Subsidiary Directive to treaty countries, including

an exchange of information clause (which is the case in the Belgian-UK Double Tax Treaty)

Interest and royalties payments between UK and Belgium generally unaffected:

• UK domestic law imposes a 20% WHT and Belgian domestic law a 30% WHT• But the possibility exists to claim a 0% rate based on the Belgian-UK Double Tax Treaty

Withholding taxes: EU Directives no longer apply



UK

EU-

company

Interest Royalties

Parent-Subsidiary Directive

Interest & Royalties Directive

Dividends

UK

EU-

company

Consequences


Withholding taxes: impact on group structures



Portugal Netherlands Austria

WHT rates

DomesticDividend: 0%Interest: 25% / 35%Royalties: 25% / 35%

TreatyDividend: 10% / 15%Interest: 10%Royalties: 5%

WHT rates

DomesticDividend: 15%Interest: 0%Royalties: 0%

TreatyDividend: 0%Interest: 0%

Royalties: 0%

WHT rates

DomesticDividend: 27.5%Interest: 0% / 27.5%Royalties: 20%

TreatyDividend: 5%Interest: 0%Royalties: 0% / 10%

Switzerland

WHT rates

DomesticDividend: 35%Interest: 0% / 35%Royalties: 0%

TreatyDividend: 0%Interest: 0%Royalties: 0%

Foreign parent

UK

Germany France Italy Spain Sweden

WHT rates WHT rates WHT rates WHT rates WHT rates


DomesticDividend: 30%Interest: 0%Royalties: 33.33%

DomesticDividend: 26%Interest: 26%Royalties: 22.5%


DomesticDividend: 0% / 30%Interest: 0%Royalties: 0%





TreatyDividend: 0% / 5% /10%Interest: 0%Royalties: 0%

Key

Blue:Lowest rate available across domestic and

treaty provisions

Black:Other rate

Belgium

WHT rates

DomesticDividend: 0% / 30%Interest: 30%Royalties: 30%

TreatyDividend: 0% / 10%Interest: 0% / 10%Royalties: 0%


Corporate restructurings and transfer pricing



Transfer pricing

Today

• For inter-company transactions in multinational companies, taxpayers can rely on the EU Arbitration Convention.

Post-Brexit

• Increased uncertainty whether double taxation would be eliminated in case of TP adjustments.

• Advance Pricing Agreements and Mutual Agreement Procedures provided by Tax Treaties could be applied instead.

Corporate restructurings

Today

• The EU Mergers Directive offers tax relief on cross-border reorganisations.

Post-Brexit

• The UK might create new law in the future, which could lead to increased tax costs for businesses undertaking merger transactions.


HR Brexit readinessA people’s approach to Brexit

Filip Van Overmeiren



No Deal Impact readiness

HR Brexit readiness

Social Security

Changes to social security legislation could have an impact on not only the cost of certain assignments, but also on the social security benefits to which the employees are entitled. Understanding these changes and their implications for your workforce and their families will be essential in order to communicate clearly and help them through the changes of Brexit.

Immigration

Changes to immigration policy may rapidly change the available talent pool, and could affect current staff. Understanding this legislation and its implications for your workforce will be key to effective workforce planning and to guarantee their right to reside and work. Workforce planning

With change in market conditions, the economy and talent pools, workforce planning strategies need to be in place, with an adapted reward plan.

Understanding the impacted workforce

It is important to be able to gather data, plan and assess the impact on your workforce.

Brexit HR action plan

Changes to immigration and social security legislation require the adaptation of mobility processes, but also clear communication and of individual employee guidance on actions to be taken regarding the right to reside and work and social security coverage.



HR Brexit readiness

Key considerations

Check whether travel insurance coverage is sufficient to cover both work and personal days within any trip or assignment to the UK

Travel insurance

No free movement of workers:

• Assess no-deal immigration legislation • Applying for (pre-)settled status for EU nationals in the UK• Registration for right to remain for UK nationals in the EU

Immigration

European driving license no longer valid for UK employees, so possibly need to request international/local license.

Driving licenses

No EU social security coordination rules:

• Check application of (revived) bilateral treaties or national law per country• Assess validity of social security documents (A1)• Assess impact on social security benefits (medical care, family benefits, pension,

…)• Cost modelling (e.g. double liability).

Social Security

Professional qualifications may no longer be recognised and local qualifications may be required

Professional qualifications

Ensure access to relevant emergency contacts for employees in the country in which they are traveling and provision of details of assistance/support lines by the employer

Accident/

Medical emergency



Deal: Withdrawal Agreement

Impact

Immigration

Free movement remains in place until 31/12/2020

UK nationals residing in the EU and EU nationals residing in the UK + their respective family members (including extensive family reunification rights);

• can continue to live, work and study in EU/UK do after Brexit;• will receive permanent resident status in EU/UK after legally residing 5 years if they entered the EU/UK before end of transition period

(until 31/12/2020)

Residence rights procedures (mandatory registration or declaratory systems) to be smooth and simple (UK registration for residency document up to 30 June 2021)

Social security

EU rules on social security coordination continue to apply (applicable legislation, aggregation of periods, export of benefits)

Citizens maintain rights to healthcare, pensions and other social security benefits

Current cross-border rules (including with EFTA) continue to apply in case of agreements between EU–UK–EFTA



No Deal: Immigration EU > UK

Impact

1 January 2021:

New Immigration

System

Cut off date for residency rights.

New arrivals are subject to a new immigration system

Transition Period:

until 31 Dec 2020

EU nationals arriving in the UK after 29 March 2019 will be required to registerif they intend to stay beyond 3 months.

They will be permitted to stay in the UK until such time as they meet the 5 year residence period to qualify for Settled Status.

UK’s “EU Settlement

Scheme”

EU nationals who are permanent residents (min 5 years) of the UK will be able to apply for Settled status under UK law.

Pre-settled status for those resident for less than 5 years, enabling them to reach settled status.

Procedures should be smooth and simple

Business travellers: ID or passport

Mar 2019:

UK leaves EU

No immigration deadline on 29/3/2019: individuals who are residing in the UK before 29 March 2019 can apply for settled or pre-settled status until 31 December 2020.



No Deal: Immigration UK > EU

Impact

Member States should take measures to ensure that UK citizens legally residing in the EU on the date of withdrawal will continue to be considered legalresidents. Member States should adopt a pragmatic approach to granting temporary residence status.

British nationals can remain with additional registration required

Austria Czech Republic

Finland* France

Germany Iceland

Italy* Liechtenstein*

Netherlands Norway

Poland Sweden

Switzerland*

Position of British nationals to be confirmed: new request can be required

Belgium Bulgaria

Croatia Cyprus

Denmark Estonia

Greece Hungary

Latvia Lithuania

Luxembourg Malta

Portugal Romania

Slovakia Slovenia

Spain

Member States Initiative

• All EU Member States currently foresee that a UK national can request a permanent residence card after 5 years of continuous residence;

• Business trips: British passports should be valid for at least 6 months from date of travel

*Exact detail on the application process has yet to be announced.



No Deal: Social Security

Impact

The European Commission encourages EU Member States to take all possible steps to ensure legal certainty and to protect the rights acquired by EU27 citizens and UK nationals who exercised their right to free movement before March 30 2019.The European Commission has proposed legislation to ensure that citizen’s social security rights are protected, e.g. that pension rights build up by UK citizens in the EU continue to be guaranteed, as the UK is foreseeing similar legislation to guarantee EU citizens’ pension rights.

Socia

l Security

for

Mobile w

ork

ers

• Certain countries have indicated that they will (temporarily) continue to apply EU Regulation883/2004 as if it is still applicable

• “A1” applications will continue tobe granted for secondments tothe UK or secondments from theUK to the EU

• Examples include the United Kingdom and Belgium

• Most countries have not yet taken specific measures regarding social security, leaving several options:

• National legislation keeping the EU rules alive, at least during a transition period

• Bilateral treaty with the UK (old or new)

• No rules: double liability in UK and EU possible (less likely)

Continued application of EU Regulation National or bilateral Brexit measures No specific measures taken yet

• Ireland, Switzerland, Norway, Iceland and Lichtenstein have already concluded a new bilateral treaty with the UK;

• Other countries, such as Germany, Spain, France and the Netherlands, are currently looking into legislation in order to maintain current entitlements of UK nationals.



Belgian no-deal Brexit readiness (legislative proposal)

Impact

Immigration

If you legally reside in Belgium on 29 March 2019, you and your family members can continue to live in Belgium until 31 December 2020No new residence documents have to be requested, but possibly you might need to re-register yourself with the local commune.

Arriving after 29 March 2019: request of residence permit (unless family of legally residing UK national), but tbd

Already in Belgium for 5 years: request a permanent residence permit, allowing to remain in Belgium indefinitely.

Likewise, the Belgian government envisages legislation to ensure that British citizens currently working in Belgium can continue to work here as if they were still EU citizens, on the condition that the same would apply in the United Kingdom

No regional Brexit legislation on right to work yet, but probably treated as EU citizens, based on reciprocity (tbd)

Social security

Maintain the current social security situation until 31 December 2020, so that you can remain subject to and contribute in the currently applicable social security regime.

European Commission proposal to ensure that any pension rights and other social security entitlements you build up during your employment in Belgium and other European countries are guaranteed, even after Brexit. As such, when you retire, even if you retire in the United Kingdom, your years of employment in Belgium will be taken into account to determine your state pension.

After 31 December 2020: new social security agreement with the UK (to be negotiated)



Payroll, Individual taxation and Employment law (collateral)

Impact

Payroll & Individual taxation

• Payroll processes may need to be adapted taking into account new social security and immigration legislation;

• Possibly additional compliance and registration formalities;

• Limited impact on individual taxation and tax returns (note: European non-discrimination case law will no longer apply)

Employment Law

• Review of existing contracts and policies (cf. travel policies);

• Adaptation of hiring & firing procedures;

• Discussion on applicable legislation possible: important to map the impact in advance (impact on minimum working conditions, termination entitlements …)


How to prepare?

HR Brexit readiness

Brexit communication

• Build communication plan (goals, stakeholders, timing, format, channel)

• Build communication materials (team briefings, intranet webpage, video conference, infoletters)

HR Readiness assessment

• Multidisciplinary diagnostic overview of the impact of a ‘no deal’ Brexit

• Prepare a gameplan regarding workforce management, reward, mobility processes and cost modelling

12

3Individual guidance

• FAQs answering basic Brexit HR questions to support employee self-assessment

• Handholding with immigrationapplications, social security formalitiesand coverage, driving licenses, …



Q&A session


Contacts

Jan VrijsenSenior ManagerIndirect TaxRaymonde de Larochelaan 19A9051 Sint-Denijs-WestremBelgië

D: + 32 9 393 75 51M: + 32 473 84 27 76E: [email protected]

Jasmijn VerraesLawyerLegalGateway BuildingLuchthaven Brussel Nationaal 1J1930 ZaventemBelgië

D: + 32 2 800 71 57M: + 32 474 26 12 38 E: [email protected]

Eric von FrenckellPartnerGlobal Business TaxGateway BuildingLuchthaven Brussel Nationaal 1J1930 ZaventemBelgië


Daan De VliegerDirectorIndirect Tax/Global Trade AdvisoryGateway BuildingLuchthaven Brussel Nationaal 1J1930 ZaventemBelgië

D: + 32 2 600 68 08 M: + 32 478 90 87 51E: [email protected]

Filip Van OvermeirenDirectorGlobal Employer ServicesGateway BuildingLuchthaven Brussel Nationaal 1J1930 ZaventemBelgië


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The impact of Brexit - deloitte.com · liabilities) Customs knowledge Need for (increased) knowledge on how customs works, what the requirements, risks and liabilities are, which

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