Treasury management and cash pooling: how is the COVID-19 crisis affecting transfer prices?

The economic downturn triggered by the COVID-19 pandemic is affecting wide swathes of sectors and companies. In particular, the treasury departments of multinationals have needed to boost their liquidity levels to cope with this unstable economic environment and meet their short- and medium-term financial obligations. Treasurers have a range of strategies at […]

Getting fit for the future: the new reality of asset management

Changing business and operating models With the arrival of Covid-19, companies were forced to innovate…fast, finding new ways of getting things done to replace old methods that no longer worked. There were production and regulatory deadlines to meet. Operating models had to be adapted overnight so people across different supply chains and countries could w […]

Withholding taxes: Why many insurance companies are being taxed twice (and how to claim it back)

Reclaims of foreign withholding taxes have become an absolute must for investment funds, but the practice has proven less common among insurance companies. For years, investment funds have been successfully obtaining refunded foreign taxes on dividends and interest. While this might be due to the more visible net performance of investment funds compared to in […]

Covid-19 and Luxembourg cross-border workers: how will working from home be taxed?

This blog is regularly updated based on the latest announcements. Last update: 11am on 8 April 2020. Highlights from this blog The days that Belgian, French and German residents work from home due to Covid-19 will not count towards the 24-day tax threshold for the Belgians, the 29-day threshold for the French or the 19-day threshold for the Germans. The […]

DAC 6: Practical reminders for the financial sector

Tick tock … 31 August 2020 will be here soon. Do you know what to report? By the end of summer, intermediaries, such as banks, asset managers, insurance companies and other professionals active in the financial sector will have to report tax arrangements they have assisted with since 25 June 2018. Tax arrangements that occurred after 1 July 2020 must be rep […]

Coronavirus and corporate taxes: Seven ways to reduce Covid-19’s financial impact on your company

In a blog post published last week, we examined the impact of Covid-19 on personal taxation, including taxation for cross-border commuters. The virus’s impact, however, also extends to companies, who now face extraordinary operational and financial hardship. Prime Minister Xavier Bettel has announced a few measures on March 17th 2020. KPMG Luxembourg has […]