Regulatory
Attention audit committees! Are you set for 2017? (Step 2)
How have the roles and responsibilities of audit committees (“ACs”) changed in the wake of new regulation that has recently become effective? We’ve put together a 6-part series about updates and challenges stemming from the law of 23 July 2016 on the audit profession and Regulation (EU) N° 537/2014. Step 2 – What are the roles and responsibilitie […]
Real estate: a year of VAT changes ahead?
The tax/VAT landscape in Luxembourg is changing, the new tax reform substantially increasing penalties for governance infringements. Thus, properly monitoring VAT obligations has become very important. On a European level, services related to immovable property have been heavily discussed and inconsistently applied in the Member States, leading to double taxa […]
IORP II: big change for pensioners?
The Institutions for Occupational Retirement Provisions (IORPs) have evolved since the publication, in 2003, of Directive 2003/41/EC on their activities and supervision (the “IORP Directive”). Aiming to align the IORPs framework with the pensioners and investors’ current needs, a final compromise was reached between the Council of the European Union and th […]
Debt funds to the rescue
Corporate financing in Europe is currently undergoing a significant transformation. Historically, it has been largely dominated by banks, but with banks being in the process of deleveraging and currently burdened by additional capital requirements, debt funds have stepped in and increasingly provided funding to small- to medium-sized enterprises, either through […]
Luxembourg companies: don’t skimp on sustainability reporting
Last year the topic of sustainability continued to gain momentum on headlines and in boardrooms: the United Nations set 17 Sustainable Development Goals, and the number of countries who have ratified the Paris Agreement on climate change grew to 125. Not surprisingly, in this context, governments and other entities have been introducing sustainability reporting […]
