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Romania: Brexit and the Financial Services Sector

Romania: Brexit and the Financial Services Sector

Britain has decided on Brexit in a referendum. However, there is a lot of uncertainty about the steps to come. The UK has not yet formally notified the European Commission of its intention to leave the EU and no one knows when this will happen. In the EU there are voices pressing for a fast Brexit and others who favor allowing more time. There is further uncertainty over the negotiations that will follow the UK’s formal exit notification (invocation of Article 50) and especially on their result. Full details of the UK’s new relationship with the EU are unlikely to be settled for several months, and may even take years to agree.

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Mădălina Racovițan

Tax Partner, Taxation Services, Head of People Services

KPMG in Romania

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