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Activities With Tax Reduction
It is of utmost importance to check, if according to law, the activities you carry out have any tax incentive for income tax purposes. The Income Tax Law in its Title VII - On Fiscal Incentives, indicates in each chapter those activities that enjoy reductions and facilities for the payment of their taxes. The activities are as follows:
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UK trade agreements with non-EU countries in a no-deal Brexit
Find out which new trade agreements will be in place if there's a no-deal Brexit.
Trade agreements that the UK is part of as an EU member state will no longer apply if there’s a no-deal Brexit.
The UK government is working on new agreements to replace EU trade agreements after Brexit.
This page lists trade agreements that:
- have been signed and will take effect as soon as the UK leaves the EU
or
- are still under discussion
Some new agreements will not be in place before the UK leaves the EU. Trade will then take place on World Trade Organization ( WTO) terms.
Trade agreements that have been signed
Agreements with the following countries and trading blocs will take effect when the UK leaves the EU:
- Andean countries
- CARIFORUM trade bloc
- Central America
- Chile
- Eastern and Southern Africa (ESA) trade bloc
- Faroe Islands
- Iceland and Norway
- Israel
- Liechtenstein
- Pacific states
- Palestinian Authority
- South Korea
- Switzerland
Trade agreements still in discussion
The agreements still under discussion are listed here.
If the UK leaves the EU without these agreements in place trade with these countries will take place under WTO rules.
Mutual recognition agreements
Australia, New Zealand and have signed mutual recognition agreements.
Discussions with Japan are ongoing and will not be completed before exit day.
A mutual recognition agreement is one in which countries recognise one another’s conformity assessments. When conformity assessments are applied to products, they are tested to an established performance standard. Inspections, quality management, surveillance, accreditation and declarations of conformity also take place.