Brexit – Tax Advisory – Ireland

The decision of the United Kingdom to leave the European Union was one of shock and regret for most Irish businesses. Ireland is the UK's closest neighbour and the member state with the deepest political, social and economic ties. As the only native English speaking common law jurisdiction remaining within the EU, Ireland is uniquely placed to benefit from some opportunities that will arise, particularly in the financial services industry.

Similar to many areas the potential impact of Brexit in the area of taxation is difficult to assess, not least because of the uncertainty as to the precise manner and timing of the UK's exit from the EU and the nature of its future relationship with the EU. While taxation is largely within the competence of individual member states under EU law, the influence of the EU Treaty and its fundamental freedoms, EU directives and regulations in the field of taxation as well as case law from the Court of Justice of the European Union have