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Brexit: Sony to move European HQ from UK to Netherlands to avoid disruption
TOKYO (AFP) - Sony will shift its European headquarters from Britain to the Netherlands to avoid Brexit-related customs issues, but operations at its current UK company will remain unchanged, a company spokesman said on Wednesday (Jan 23)."We are moving the location of our European headquarters' registration to the Netherlands" by the end of March, company spokesman Takashi Iida told AFP. The relocation is aimed at avoiding cumbersome customs-related procedures after Britain leaves the European Union, he said. The Japanese electronics giant late last year registered a new company in the Netherlands, and plans to integrate its existing European headquarters in Britain into the new company. The move will make the firm "a company based in the EU", so the bloc's common customs procedures will apply to Sony's European operations after Britain relinquishes membership, Iida said. Sony, however, will not move personnel and operations from the existing UK company to the Netherlands, and "the only change we will make is the change of registered location of the company", he added. Its rival Panasonic last year moved its European headquarters from Britain to the Netherlands over concerns about potential Brexit-related tax issues. Posted by: Besoeker 2019-01-23 |
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