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Panasonic to move European headquarters out of UK

Electronics maker looks to Amsterdam as Britain faces tax haven label

Panasonic's booth at the IFA consumer electronics show in Berlin this year. The company plans to move its European headquarters to Amsterdam from outside London.

BERLIN -- Panasonic will move its European headquarters from outside London to Amsterdam in October to avoid potential tax issues linked to the U.K.’s scheduled exit from the European Union.

Japan could treat the U.K. as a tax haven if it lowers its corporate rate, Laurent Abadie, CEO of Panasonic Europe, told Nikkei here, referring to the country's attempt to lure businesses with low levies. Abadie was attending IFA 2018, the continent’s largest electronics fair.

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