Whether you’re a business trying to market your services in the EU or the UK, or you want to expand your services in their territories, it’s imperative you know the implications of the General Data Protection Regulation (GDPR) to your business.
In this infographic, we address the most commonly asked questions about GDPR regulations.
Known as the most robust data protection measure, the GDPR encapsulates the European Union’s (EU) efforts to safeguard its member states’ data privacy, within and outside the EU and European Economic Areas (EEA).
It applies to all EU-based organizations, and companies who cater to EU citizens, regardless of where you are located. As long as you’re offering products or services in any EU member state, you are bound by GDPR regulations.
The UK is now considered a ‘third country’ under the GDPR provisions effective after their official exit in the bloc, which implies the UK does not apply the EU GDPR anymore. But if you’re still catering to EU member states, or operating in the EEA, you’re still subject to the rule.
However, the signed Trade and Cooperation agreement includes an interim data agreement that secures continuous free flow of data between the two parties until adequacy decisions are made before the six-month grace period that ends in June 2021.
Now that the EU GDPR is no longer practiced in the UK, a new domestic data privacy law is formed and oversees processing of all personal data within the UK jurisdiction.
The UK GDPR is almost a mirror to EU’s GDPR as it requires your website to obtain explicit permission from users before collecting their data through cookies and third-party trackers.
Keep in mind that compliance with the GDPR regulation is a binding requirement in the UK or EU, so non-adherence can cause a million euros worth of fine and penalty on your end. Make sure you are in the loop about the updates in the UK GDPR as we move along the post-brexit period.
D&V Philippines is an esteemed finance and accounting firm that understands the importance of keeping your client’s privacy. Learn about our F&A solutions that are compliant with GDPR rulings. You can also get your copy of our whitepaper D&V Philippines: Your Talent Sourcing Partner to know how we can be the best fit accountants for your business.
