IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Jannine Forguez Ostuni of ARAUJO & FORGUES SC. Jannine has joined IR as our exclusive Tax (Law) member in Bolivia. Over the years, ARAUJO & FORGUES ABOGADOS consolidated its position as one of the most important legal firms in Bolivia and as the first specialist firm […]
The Grand-Duchy of Luxembourg is the largest centre for private wealth management in the European Union. One hundred and forty two international banks have been established within its borders, and numerous investment funds are domiciled in the country. As a consequence, Luxembourg has a strong network of double tax treaties developed over several years. As […]
Local financial institutions are well prepared to provide the Luxembourg tax authorities with CRS reporting information. Clients are slowly integrating the new business parameters, such as actual substance requirements, and have closed treaty shopping mechanisms. They have to accept this new ‘tax way of life’. From a practical perspective, clients who remain tax compliant in […]
Luxembourg recently introduced into domestic tax law the basic transfer pricing principles foreseen by Articles 8 -10 of the OECD BEPS report. Luxembourg will have to implement the anti-tax avoidance directive which includes the principles set out by the OECD BEPS report as regards hybrid mismatch (Action 2), CFC Rules (Action 3), Limitation of Interest […]
Several Luxembourg-based banks have refused to accept US clients to avoid FATCA-related reporting. However, as one of the major financial centres in the world, Luxembourg’s financial industry has integrated the FATCA consequences in its business model. One of our major challenge in this context is to demonstrate how tax compliance advice can be valuable.
Traditionally it has been questioned whether social administrators would be able to coordinate their role as an Administrator with that of Employment Relations (of either senior or middle management) having already the so called “Teoría del Vínculo” (“Contractual Link Theory”) applied by Courts. “Contractual Link Theory” (magistrate of the Supreme Court, Mr. Desdentado Bonete) It […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Adv. Ram Joulus of Joulus Gazit & Co. Ram has joined IR as our exclusive Tax (Law) member in Israel. Adv. Ram Joulus regularly accompanies leading companies and entities in the Israeli market, advising them on various tax aspects, and provides […]
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Bill of law 7184 was issued on 12 September 2017. It aims to adapt the Luxembourgish legal framework to the GDPR requirements and to complement the provisions of the GDPR with national specificities. The first chapter of the bill redefines the powers of the Luxembourgish data protection supervisory authority, the Commission Nationale pour la Protection […]
Directive 2014/65/EU and Regulation 600/2014 on Markets in Financial Instruments (“MiFID 2” and “MiFIR”) became applicable on 3 January 2018. MiFID 2 and MiFIR aim at making financial markets more resilient and efficient by: – extending market transparency and transaction reporting; – protecting investors (one of the main changes will be the ban on inducements […]
On 14 December 2017, the 2018 budget law was approved by the Luxembourg Parliament. The main tax- related measures, applying from 1 January 2018, are summarised below. – extension of the investment tax credit to (i) zero emission cars and (ii) acquired software (provided that this software has not been acquired from any associated entity); […]
On 8 December 2017, the Luxembourg tax authorities published an updated version of Circular L.G.-A. n°61, which replaces the previous version dated 12 February 2015 and provides details on the issuance of certificates of tax residence for Undertakings for Collective Investments (UCIs). The updated version of the circular now covers Reserved Alternative Investment Funds (RAIFs). […]