According to the latest research, after Brexit, the complexity of cross -border taxes last year caused British retailers to lose 414 million pounds of income, and the continued to hinder the development of British retailers. With the economic recovery after the epidemic, many British retailers are still optimistic about the future European market opportunities. Two -thirds (66%) respondents said they planned to expand at least one EU market.
However, in practice, the tediousness of the system and the reality of comprehensive tax reform from the European Union’s sales from other EU are affecting these plans. Nearly one -fifth of the retailers currently exported to the EU are planned to withdraw at least one EU market in the future. 59% of retailers revealed that they were worried that they were fined due to taxes. Essence The study predicts that by 2026, the complexity of tax collection and management is expected to lead to further losses of British retailers to benefit 92 million pounds. The continuous emergence of new regulations and the increase in the workload that maintains compliance has brought tremendous pressure on retailers. In fact, for the nearly seven tenth -tenth -tenth -tenth -tenth -tenth -tenth -tentid retailer (69%), ensuring that their obligations and regulations are currently the biggest pressure for their business.
Post time: May-24-2022