The short answer is that no one knows for sure how the decision from the 23rd June 2016 will affect businesses and with negotiations yet to start it will be some time before we have a clear idea. It is a challenging time, which is why the Tax Management SIG is hosting a series of webinars that will focus on what Brexit means for indirect taxes.
The webinars led by Andrew Bohnet, the current Oracle Tax Management Special Interest Group chair, will look at what is likely to happen and how this will affect your Oracle configuration and processes around your Oracle eBusiness indirect tax solution. We will discuss how Brexit will impact all aspects of your Oracle eBTax or your Oracle Cloud (Fusion) solution, the reporting requirements such as the European Sales Listing Report, Intrastat reporting and the VAT return and the impact on other modules such as order management or projects.
From an indirect tax perspective, we will ask the question, does it matter if we are in Europe if we are not part of the European Union? 'Leaving the EU' is a confusing term because the UK is very much a European country, just like Norway and Switzerland who are also not part of the European Union, but are in Europe and function perfectly well without the complex requirements surrounding VAT and the EU.
We will focus on, what the alternatives are to being part of Europe around indirect tax, the Mini-One-Stop-Shop (MOSS) for example. Our aim is that the webinars will help you prepare your business for the challenges ahead to make sure you are ready for the changes when they come.