Brexit Alert for Legal Counsel
Are you prepared?
The Brexit Alerts will summarise the key legal issues that are relevant across the widest cross-section of businesses most likely to be affected by Brexit.
This series of Brexit Alerts will form a checklist providing guidance to legal counsel for managing Brexit risks. The alerts can be used to ensure that you identify and consider all the key issues in your Brexit plan.
Changes to Customs Legislation
10 April 2019
Without knowing when (or whether) Brexit will take place, the Belgian authorities are aiming to fully prepare for a potential “no-deal” scenario. In addition to operational preparations, the authorities are approving draft legislation at different levels to govern a transition in case a “no-deal” Brexit occurs.
The draft bill regarding the United Kingdom’s withdrawal from the European Union, which was approved in the Federal Chamber on 27 March 2019, includes relevant changes for economic operators in the field of customs and trade.
Flemish Region adopts contingency decree with temporary ‘no-deal’ measures
5 April 2019
With a conclusive outcome to the Brexit process yet to materialise, this alert aims to provide guidance regarding the implications of a (currently likely) ‘no-deal’ Brexit for inheritance tax and gift taxes in the Flemish Region.
In several aspects, the Flemish Tax Code provides more beneficial tax rules for persons, businesses and assets within the European Economic Area (“EEA”).
Implications for Competition Law
26 March 2019
Brexit is becoming an increasingly complicated and difficult process to follow, with multiple possible scenarios to prepare for. Will there be a deal or will it all conclude with a hard Brexit? When is any form of Brexit likely to occur?
In the area of competition law, companies with ongoing transactions or investigations, and companies with transactions planned in the near future may be experiencing a great deal of unease amidst the current legal uncertainty. This Brexit alert aims to provide guidance with regard to the implications of a soft and hard Brexit for competition law.
Corporate law considerations: branch offices
15 March 2019
With the continued uncertainty brought by recent Brexit developments, and a (albeit delayed) “no-deal” scenario still a legal default, Belgian companies should consider the nature of their corporate presence in the UK and the possible impact if no agreement is reached (i.e. no EU-UK trade deal or preferential / transitional access to the Single Market). The same applies for UK companies regarding their corporate presence in Belgium (and elsewhere in the EU).
Possible implications for banking and finance
6 March 2019
Belgian companies may currently be wondering whether Brexit will impact their corporate finance activities. Although there is considerable uncertainty as to how and when Brexit might actually occur, and therefore how it will impact these activities, this Brexit Alert considers some of the potential implications if no agreement is reached and whether you should consider making any changes to your finance practice.
UK to continue as independent member of Government Procurement Agreement
1 March 2019
Whether Brexit happens or not, European companies can continue accessing the UK’s government procurement market.
On Wednesday 27 February 2019, the parties to the Government Procurement Agreement (GPA) approved the United Kingdom’s accession to the pact as independent member. This means that if and when Brexit eventually happens, European companies will still be able to bid on most major government contracts in the UK. British companies will also continue to benefit from access to government procurement in the EU.
Impact on IP and Personal Data Protection
14 February 2019
With Brexit looming, it is not yet clear whether the UK will leave the European Union with a deal (“soft Brexit”) or without one (“hard Brexit”). Regardless of how it occurs, the UK’s departure from the EU will have an impact on how companies deal with Intellectual Property Rights (IP) and Data Protection.
In this Brexit Alert, we focus on the impact of a hard (or “no-deal”) Brexit on both areas and highlight the most important questions. Laga aims to provide answers as well as practical action points for legal counsels to consider.
Are you prepared?
8 February 2019
The UK’s impending departure from the EU will bring change for businesses of every size and sector, especially in Belgium, given its close economic and geographic ties with the UK.
In view of a possible “no-deal” Brexit by 29 March 2019 (i.e. no EU-UK trade deal or preferential / transitional access to the Single Market), now is the time for Belgium-based businesses to consider the changes that Brexit may bring, and to plan at commercial, operational, board and legal levels.
While there is no perfect text-book answer to how companies should – or shouldn’t – prepare for Brexit (given the unprecedented nature of the situation), Laga’s Brexit Alerts will provide structure and informed analysis for legal counsel to deal as best as possible with the complicated implications of the situation.