Japanese electronics company Panasonic will move its European headquarters from Bracknell, in the UK to Amsterdam in October to avoid possible tax issues linked to Brexit, said Panasonic Europe CEO Laurent Laurent Abadie. If the UK cuts corporate tax rates to attract business, Japan could view the UK as a tax haven, leading to a higher tax bill in Japan, said Laurent Abadie. The move was also prompted by concern over access to the free flow of goods and people.
Japanese electronics company Panasonic will move its European headquarters from Bracknell, in the UK to Amsterdam in October to avoid possible tax issues linked to Brexit, said Panasonic Europe CEO Laurent Abadie. If the UK cuts corporate tax rates to attract business, Japan could view the UK as a tax haven, leading to a higher tax bill in Japan, said Abadie. The move was also prompted by concern over access to the free flow of goods and people.