Brexit: risks & opportunities

Brexit: risks & opportunities

Irish business is entering a new era. KPMG is here to work with you to help prepare for any scenario and to provide support in the months ahead.

Irish business is entering a new era.

The people of the United Kingdom have voted to leave the European Union. This is an enormously significant decision for global business and for the island of Ireland and businesses based here - both North and South. Many of the implications of the result are very negative and others will evolve over time.

It is important to re-affirm the many positive fundamentals that already exist in the Irish - UK economic relationship. We are both significant markets for each other’s goods and services and this will not change. Inevitably and depending on the outcome of the exit negotiations, there may be some notable alterations to the terms of this trade.

These negotiations may be protracted and the medium term economic impact of the referendum result remains highly uncertain. The short term impact is certainly very negative. It is in everyone’s interests that the eventual trading relationship between the EU and the UK is as business friendly as possible.

The Irish government can and should play an important role in ensuring that Ireland’s interests are strongly represented and we are very supportive of all efforts to ensure that outcome. We are also highly supportive of the efforts of state agencies to promote Ireland’s continued appeal as an excellent location for business.

We hope this document is a useful aid in helping consider some of the complex and evolving issues in relation to Brexit, including the many UK tax implications. Download Brexit in the Boardroom (updated 14 July 2016) at the following link:

© 2017 KPMG, an Irish partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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