image: Reuters/File

Panasonic set to move its European base to Amsterdam due to Brexit

August 30, 2018

It is thought that the change in location will enable the firm to avoid potential tax issues following the impending Brexit.

In preparation for Britain leaving the EU, it is expected that a wide range of multinational firms will make the decision to move their EU headquarters abroad.

Speaking to the Nikkei Asian Review newspaper, Panasonic Europe’s Chief Executive, Laurent Abadie, confirmed that Panasonic made the decision after it was feared that Japan would start seeing the UK a tax haven if it reduced corporate tax rates to attract business.

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