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Indirect Taxes Along the Northwest Passage: VAT Implications of Brexit and Washington and Oregon Tax Reform

August 2016
Presenters: Giles Bavister

 Watch Webinar Recording. (CLE/CPD Credit Available)

This webinar focuses on VAT implications of Brexit and Washington and Oregon tax reform.

VAT Implications of Brexit. VAT and indirect taxes are critical to your supply chain, cross border transactions, and supply of services. Brexit would end the EU’s shared competence in VAT, including removing the restrictions on the UK’s current limited discretion in setting the effective rates of VAT. Extrinsic policy drivers may well then affect VAT in different sectors. UK VAT currently contributes roughly 20% of the UK Government’s revenues and so wholesale reform of VAT is unlikely.

Washington and Oregon Tax Reform. Education funding in Washington and Oregon will drive tax reform in those two states. The Washington Legislature must come up with billions of dollars in funding to comply with the McCleary decision. Oregon voters will decide whether to impose a corporate minimum tax measured by 2.5% of the company’s gross receipts on businesses with sales exceeding $25M.