UK, Finnish Firms Say Barrier-Free UK-EU Trade Critical

by Jason Gorringe, Tax-news.com, London

21 September 2017

British and Finnish business associations are calling for Brexit negotiators to minimize trade barriers after the UK leaves the EU in March 2019.

After meetings between members of the British Chambers of Commerce (BCC) and the Finnish Chambers of Commerce, the two organizations urged the importance of ensuring that trade and investment is not hindered by the introduction of new tax and non-tax barriers.

They also called for more guidance for companies on how Brexit will impact operating conditions.

"Businesses want to minimize the risk to free-flowing trade with partners like Finland, and to avoid the creation of artificial new barriers that stop companies collaborating across boundaries," said BCC Director General Adam Marshall. "The ongoing Brexit negotiations must seek to provide businesses with clear answers on practical issues including customs procedures, health and safety checks, and tax rules - and guarantee the status of nationals resident on either side."

"Brexit must not lead to new obstacles or increased costs for companies from the UK, Finland or other EU countries," said FFC Chief Executive Risto Penttilä. "The UK is one of our most important trading partners, and a strong British economy will benefit both Europe and Finland."

An earlier survey by the German Chamber of Commerce found that the business outlook of companies that are engaged in trade with the United Kingdom is worsening, due to the expectation of cost burdens from limits on free movement of workers, taxes, tariffs, and increasing bureaucratic hurdles at Europe's new borders.

TAGS: tax | business | value added tax (VAT) | commerce | tariffs | United Kingdom | Finland | chamber of commerce | trade

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