TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

EU ministers give official green light to Brexit negotiations

On 25 February, the European Union’s (EU) General Affairs Council formally adopted a decision to authorise the opening of the future partnership negotiations between the EU and the UK. The associated negotiating directives are based on the draft recommendation put forward by the Commission on 3 February 2020. The approved directives fully respect existing European Council guidelines and conclusions, as well as the Political Declaration agreed between the EU and the UK in October 2019. The directives cover areas of state aid, competition, state-owned enterprises, social and employment standards, environmental standards, climate change, relevant tax matters and other regulatory measures and practices. Formal negotiations are set to start next week on 2 March 2020.

The UK has also published its counterpart of the negotiating directives yesterday, titled “The Future Relationship with the EU: The UK’s Approach to Negotiations”, following the statement by Michael Gove, Minister for the Cabinet Office, in the House of Commons about the UK Government’s negotiating mandate for post-Brexit trade talks with the EU. Mr Gove also stressed upon the UK’s decision to end the transition period on 31 December 2020 by stating that “we (the UK) want the best possible trading relationship with the EU, but in pursuit of a deal we will not trade away our sovereignty.”