Why Debt-to-Equity analysis should be on your “Black Swan” radar?

What exactly is it?  A debt-to-equity (D/E) analysis determines if the forecasted debt level and capital structure of a company meet the arm’s length standard. In other words, it aims to establish an approximation of conditions that are consistent with third-party behavior. As a simplified illustration, here are just some of the typical transfer pricin […]

How market compliant are your RAIFs?

Introduced in Luxembourg in 2016, the Reserved Alternative Investment Fund (RAIF) offers a simpler set-up and quicker time to market than its regulated counterparts. All asset classes and investment strategies are permitted, and many secondary sources say that you may even distribute these funds directly in Luxembourg – and to well-informed investors to boot..

Mandatory Disclosure Rules: five key questions for insurers

The Mandatory Disclosure Rules (MDR) arose from the ambitious anti-tax avoidance project on Base Erosion and Profit Shifting (BEPS) that the OECD launched in 2015. The MDR Directive, also known as DAC 6, is the latest EU initiative regarding the automatic exchange of tax information. Aimed at identifying harmful tax practices and further increasing tax transp […]

Transfer pricing in Luxembourg: what to consider when restructuring

This article was prepared together with Khyati Joneja. Business restructurings are normally associated with a transfer of functions, risks, or assets between the entities of a group—and that means transfer pricing consequences. The restructured group entity is usually entitled to an (arm’s-length) compensation, the assessment of which requires the use tra […]

Cooperation in space: US and Luxembourg sign MOU

This article was written together with Alina Vasiurenko. On 10 May 2019, the Grand Duchy of Luxembourg and the United States of America signed a Memorandum of Understanding (MOU) to strengthen cooperation in the field of space-related activities and associated commercial opportunities. US Secretary of Commerce Wilbur Ross came to Luxembourg to attend t […]

New Luxembourg law protects fund sector from Brexit

On 28 March 2019, the Chamber of Deputies passed a law that grants investment funds a one-year delay in which to solve breaches of investment rules and EU passporting issues that would result from a “hard” or “no-deal” Brexit. The main objective of this law is to maintain market stability and protect investors from negative Brexit-related consequences. […]