Despite the continuing uncertainty about whether and how the Brexit comes, has been adopted by the Federal Cabinet on Wednesday accompanying laws, with which the consequences of a British EU exit are regulated. The package contains a number of Changes in the tax, building societies and mortgage was reported that the law, as in government circles. It is provided also a loosening of dismissal protection for Top bankers. Thus, Germany should get better opportunities to compete for large international banks, which want to get on the continent a new leg to stand on.
The draft law of the Ministry of Finance is the principle that the United Kingdom to the EU exit “to be treated for tax purposes as a third state”. The target is to maintain in each of the fields in which the Brexit “inappropriate” or not with the EU would have consistent consequences, “the ‘Status Quo'”. Affected Taxpayers should get for a “necessary transition time” inventory protection. So legal certainty and the continuity of contracts on financial transactions is maintained.
Altmaier: Each of Brexit costs money
The departure of Britain from the EU mainly concerns financial companies in a variety of ways. So a unregulated could lead exit, that such a company from the UK market right of access to the EU market. This could result in distortions at the end of the Market and risks to financial stability threaten. With the new law is intended to prevent transactions after the Brexit must be handled and it is for mass termination of contracts.