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Ahead of Brexit Panasonic will move its European Headquarters to Amsterdam. The London HQ currently employs between twenty and thirty people, between ten and twenty jobs are said to move to Amsterdam. The investor relations people will remian in London, the auditing and financial operations staff will move to Amsterdam to remain in the EU, following the UK's exit from the Union March 2019.
Japanese companies face an extra hurdle, as the UK has said it will reduce corporate tax rates below its current 20% to retain international companies. However this is most likely to trigger the Japanese government to declare the UK a tax haven, lifting the tax exemptions.exposing Japanese multinationals to double taxation.
Laurent Abadie, CEO of Panasonic Europe, also told Nikkei Asian Review that he was worried about the flow of goods and people and that the move has been contemplated for the past fifteen months.
Amsterdam has been actively lobbying multinational companies to move from the UK to Amsterdam, with limited success. Panasonic is still a premium brand so a nice win for the city, despite the limited number of staff involved.
Panasonic currently has a local office in the South of the Netherlands, in the city of Den Bosch. It recently moved from its own building with large showroom at a prime location right along the A2 major highway into a shared office building, after shedding over 50 full-time positions.
Japanese companies face an extra hurdle, as the UK has said it will reduce corporate tax rates below its current 20% to retain international companies. However this is most likely to trigger the Japanese government to declare the UK a tax haven, lifting the tax exemptions.exposing Japanese multinationals to double taxation.
Laurent Abadie, CEO of Panasonic Europe, also told Nikkei Asian Review that he was worried about the flow of goods and people and that the move has been contemplated for the past fifteen months.
Amsterdam has been actively lobbying multinational companies to move from the UK to Amsterdam, with limited success. Panasonic is still a premium brand so a nice win for the city, despite the limited number of staff involved.
Panasonic currently has a local office in the South of the Netherlands, in the city of Den Bosch. It recently moved from its own building with large showroom at a prime location right along the A2 major highway into a shared office building, after shedding over 50 full-time positions.