Luxembourg

Some Christmas magic, signed KPMG


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For the Christmas season, we have the pleasure of putting our signature – not to an audit opinion – but rather to a thanks and a hope. To inject a bit of magic into Christmas, we’ve reimagined our new home on Kirchberg-Luxembourg as a magical greeting for the holiday season. We hope you’ll accept this as our thanks to you – blog readers, clients, staff, acquaintances and friends – for your help, support or mere curiosity over the past twelve months.

substance-home-tax-kpmg-luxembourg

Home is where the substance is

The era when a company could use a mere letterbox are about to become a legend.

“Substance over form”

This principle is well-known to accountants and is gaining momentum among tax experts. The increasing importance of economic substance is a logical consequence of various actions undertaken by national or supra-national bodies, such as the OECD’s recommendations on transparency and substance, transfer pricing regulations and base erosion and profit shifting (BEPS) action plans.

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IAS 39 is history, IFRS 9 a mystery? Expected credit losses explained

From 2018, IAS 39 will be history and IFRS 9 can no longer be a mystery as a variety of financial statement preparers may find themselves affected by the changes.

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Withholding taxes suffered in France? 31 December is a date to remember

Investment funds who unduly suffered withholding taxes on French sourced dividend payments will, by the end of this year, see the period for which they can claim a refund reduced to two years. As a consequence, it is time to protect your rights by filing a protective claim prior to the year end.

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Private Equity, Base Erosion Profit Shifting, Funds: a sweet or bitter cocktail?

Following the G20 summit in Brisbane, tax is still clearly on top of the agenda. The Organization for Economic Cooperation and Development (OECD) has been praised by heads of state and government for its action plan against base erosion and profit shifting (BEPS). Many aspects still need to be agreed upon by the end of next year.

ALFIalternative

Die Zukunft ist Alternativ

„Die Zukunft ist Alternativ“ – unter diesem Motto stand die diesjährige ALFI „European Alternative Investment Funds“ Konferenz am 25. und 26. November in Luxemburg.Die Branche sieht sich für die Zukunft gut gerüstet. Wesentliche Wachstumstreiber für die kommenden Jahre werden die Aufwendungen für die europäische Infrastruktur und der gewaltige Finanzierungsbedarf für kleinere und mittlere Unternehmen sein.

luxembourg polish club women entrepreneur

KPMG supports Entrepreneurial Women Project

KPMG Luxembourg supported the Luxembourg Poland Business Club in its Entrepreneurial Women Project. The project consisted of a block of six Saturday workshops in October / November 2014 for six hours. The topics included, among others, writing a business plan, licensing and taxation in Luxembourg, as well as finding funding and networking. The group included ladies aged between 20 and 40, of various professional backgrounds and 15 different nationalities from all over the world.

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Investing in Taiwan or planning to do so? Did you know that …

A new agreement for the avoidance of double taxation between Luxembourg and Taiwan (“DTA”) will come into effect on 1 January 2015. As a result, new horizons will open for Luxembourg SICAVs. Read on to find out how they can benefit.

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Blühende Landschaften

Die alljährliche Investmentfondskonferenz, zu der KPMG Partner Walter Koob die deutschsprachige Investmentfonds-Community in Luxemburg geladen hat, stand – wie Managing Partner Georges Bock in seiner Eröffnungsrede darlegte – eigentlich unter einem guten Stern. Getrübt wurde die Freude über das nachhaltige Erreichen der 3 Billionen Euro Marke der in Luxemburg domizilierten Nettovermögenswerte jedoch durch die Botschaft des Ausscheidens Walter Koobs zum Jahresende, dessen sprichwörtlich große Fußstapfen lediglich Charles Muller auszufüllen in der Lage sei.

Automatic exchange of information

Automatic exchange of information, this time it is (really) for tomorrow

On November 13, Frank Stoltz (Partner) and I had the honor of being invited by the Association des Compagnies d’Assurance et de Réassurance (“ACA”) to speak about the last development on the constantly evolving topic of automatic exchange of information (“AEoI”) at the occasion of the successful ACA Insurance day 2014.