SPAIN’S tax office has warned Spanish businesses of the potential consequences of a no-deal Brexit.
The Hacienda sent letters to thousands of export companies with tips on how to adapt to the worst case scenario should the UK leave the EU on March 29 without a deal.
The warning details how a no-deal would mean trade flows between Spain and Britain will ceased to be considered internal European transactions and will be subject to customs formalities.
“Brexit could have a significant effect on your organization and its logistics flows,” the letter reads, “If there is no exit agreement that includes a transitional period, this will mean that on March 30 the UK will leave the single market and the customs union.”
The number of Spanish companies exporting to the UK grew by 8% between 2012 and 2017 to 11,695 businesses.
The UK was the fifth top destination for Spanish exports in 2017, after France, Germany, Italy and Portugal.
- Dead blue whale found floating in Marbella - 22 Jul, 2019 @ 10:39
- OPINION: Justice at last! - 21 Jul, 2019 @ 04:39
- SIMPLY THE REST: Driving through Spain this summer? Here are the best boutique hotels to stop at en route - 20 Jul, 2019 @ 09:05
- Expat Marbella couple held in prison on drug and money laundering charges ‘may have links to Finland’s Hells Angels’ as more details emerge - 19 Jul, 2019 @ 15:13
- IN THE NICK OF TIME: Irish man arrested at Malaga airport check-in desk donning €28,000 Rolex he reported as robbed in Marbella a day earlier - 19 Jul, 2019 @ 12:41
- Expat stumbles upon TWO sets of human remains on Spain’s Costa del Sol during morning stroll - 19 Jul, 2019 @ 12:15
- Conservative deputy mayor arrested after police find HUNDREDS of marijuana plants growing in his home in Spain’s Andalucia - 18 Jul, 2019 @ 17:13
- Expat Marbella restaurant owner and bikini-model girlfriend arrested on money laundering and drug charges as Costa del Sol home raided - 18 Jul, 2019 @ 16:09
- MUST READ: How to survive a rip current following deaths of two swimmers on Costa del Sol beach - 16 Jul, 2019 @ 11:43
- Man becomes second to die off Costa del Sol beach in just 15 days - 15 Jul, 2019 @ 16:35