Tax Press Articles

AGEFI
Digital assets, an emerging asset class for alternative investment managers
March 2023

Blockchain technology and its countless use cases are still in their infancy and will become important part of our lives and economy over the next decade.

AGEFI
Le régime fiscal et social des travaillers frontalier France-Luxembourg
March 2023

Avancées, statu quo et incertitudes à l'aube de l'année 2023

AGEFI
Why the asset management sector must include tax matters in their internal audit plans
February 2023

Internal audit, the third line of defense, is an integral part of an organization's internal governance arrangements.

AGEFI
Fund cost supervision: the interplay between undue costs and transfer pricing
February 2023

Costs, whether annual management fees or operating and administrative expenses, are critical to assessing the benefits of an investment fund.

ITR
Directors’ functions: direct tax, governance, and VAT considerations
January 2023

Michel Lambion and Frederic Scholtus of Deloitte Luxembourg consider the concept of independence for governance and tax, including [...]

AGEFI
TVA et digitalisation: du guichet unique à l'immatriculation unique
December 2022

Le développement des transactions internationales, notamment grâce au recours à internet, conduit de plus en plus d'opérateurs économiques [...]

AGEFI
TVA et digitalisation: quid des services financiers?
December 2022

Au regard de l'importance du secteur financier (assurance, banque, gestion de fonds, etc.) au Luxembourg, il nous semble intéressant d'examiner les impacts que pourraient avoir la digitalisation de la TVA sur les services financiers, même si l'étude réalisée pour la Commission européenne et sa consultation publique ne les abordent pas spécifiquement.

ITR
Transfer pricing, ESG, and the road to net zero
October 2022

Iva Gyurova and Gonçalo Dorotea Cevada of Deloitte Luxembourg analyse the taxation considerations for businesses as they are increasingly compelled to focus on environmental, social, and governance issues.

AGEFI
TVA et digitalisation (2)
October 2022

De nouveaux défis pour les plateformes de commerce électronique.

AGEFI
Intra-group outsourcing arrangements in the financial services industry
October 2022

Outsourcing has never been so popular in the financial services industry. The benefits from cost effectiveness to operational excellence are undeniable.

AGEFI
Vers un système de reporting électronique obligatoire au niveau de l’Union européenne ?
September 2022

La digitalisation est présente dans tous les secteurs. La TVA n’y échappe pas.

AGEFI
La lutte contre le blanchiment de fraude fiscale à l'épreuve de la prochaine visite du GAFI
September 2022

Reportée en raison de la pandémie, la prochaine visite du Groupe d’Action Financière (GAFI) au Luxembourg se déroulera, sauf annulation de dernière minute, à l’automne 2022.

ITR
The Multilateral Instrument’s impact on real estate investments
August 2022

The differences and similarities in the implementation of the MLI in Austria, Germany, France, Luxembourg and Poland are summarised by Yves Knel and Anne-Sophie Le Bris of Deloitte Luxembourg, in association with regional experts.

ITR
Transfer pricing considerations for outsourcing arrangements in the financial services industry
July 2022

Financial services providers are increasingly using related and unrelated parties to undertake certain activities previously performed in-house to reduce costs and enhance efficiency.

ITR
Developments on the EU’s proposed unshell directive
July 2022

Mélanie Delvaux and Jean-Michel Henry of Deloitte Luxembourg give an update on the EU’s proposal for a directive to prevent shell companies being used to evade or avoid tax, and how the regulations could affect companies.

AGEFI
Toward a unified EU system to avoid double taxation and prevent withholding tax fraud
July 2022

The European Commission is currently working on an interesting initiative that, if adopted, could significantly simplify the withholding tax reclaim or relief at source procedures while reducing the risk of withholding tax fraud.

AGEFI
Tokens and DeFi energizing the funds industry, from issuance to taxation
July 2022

2021 was a record-breaking year for cryptocurrencies, with many, including Bitcoin and Ethereum, reaching new market price highs.

Kluwer International Tax Blog
Transfer pricing during the lifecycle of a related party financial instrument
June 2022

Two years on since Chapter X of the OECD Transfer Pricing Guidelines (Chapter X) was published in February 2020, the practical transfer pricing aspects of financial transactions are due another look.

AGEFI
How automation increases quality in tax compliance
June 2022

Needless to say, the regulatory landscape becomes increasingly complex and abundant. This evolution has contributed to the rise of Big Data and is driving the move to a digitalized world.

AGEFI
Déduction de la TVA par les sociétés holdings « actives »
June 2022

Le 17 mars 2022, la Cour de cassation de Luxembourg a confirmé que la déduction de la TVA supportée sur ses frais par une société holding «active» ne pouvait se limiter au montant des services facturés ce qui constitue une heureuse et attendue confirmation pour de nombreux praticiens et sociétés du pays.

AGEFI
Le juge administratif s’invite de plus en plus dans les discussions fiscales
May 2022

En mars dernier, la Cour administrative a rendu plusieurs décisions marquantes concernant les sociétés.

AGEFI
TVA : une évolution pour les services de gestion de fonds d’investissement ?
May 2022

Le «Bundesfinanzgericht» autrichien a récemment (février 2022) décidé que des services de «reporting fiscal» et de mise à disposition d’un logiciel spécifique à la gestion de risques rendus à des fonds d’investissement ou à leur société de gestion peuvent être considérés comme des services de gestion de fonds exonérés de TVA.

ITR
Preliminary lessons learned from TP audits in Luxembourg
March 2022

In 2020, the Luxembourg tax authorities (LTA) launched a wave of tax audits with a focus on financial transactions.

AGEFI
Renforcer la lutte contre la fraude fiscale
March 2022

L’Union européenne impose de nouvelles obligations de «reporting» aux plateformes et aux prestataires de services de paiement pour lutter contre la fraude notamment TVA.

AGEFI
La situation de travailleur frontalier résident fiscal de France
March 2022

Entre l’émergence de la crise de la Covid-19, l’entrée en vigueur de nouvelles dispositions conventionnelles ou la constante évolution de ces nouveaux standards, le travailleur frontalier résident fiscal de France n’est pas resté au repos depuis la fin de la dernière décennie.

AGEFI
Taux de TVA réduits: du changement dans l’air
February 2022

En décembre 2021, le Conseil européen s’est accordé sur une réforme qui offre plus de flexibilité aux États membres en matière de taux de TVA réduits.

AGEFI
The Pan-European Pension Product (PEPP) is coming to Luxembourg
February 2022

Before delving into PEPPs, we should look into how these products came about.

AGEFI
Dimension of Substance – interplay between Transfer Pricing and Controlled Foreign Corporation Rules
January 2022

Luxembourg intercompany financing and holding entities are looking to meet their operational and economic capabilities required to manage their activities.

PAPERJAM
Cinq réglementations qui vontimpacter la Place
January 2022

Si le secteur fifinancier a été confronté à d’incessantes vagues règlementaires au cours des dernières années, ce mouvement n’est pas terminé. Nous pointons cinq paquets de réglementations qui impacteront considérablement la Place au cours des prochains mois.

DELANO
IBOR Transition
December 2021

Since its announcement in March 2021, the Financial Conduct Authority (FCA) and ICE Benchmark Administration (IBA), the administrator of LIBOR, will no longer seek to require panel member banks to compel quotes for interbank offered rates (IBOR) after the end of 2021.

ITR
Luxembourg: How is the tax function leveraging automation technologies, and why does it matter?
December 2021

Fateh Amroune and Sergio Ruiz de Gracia of Deloitte Luxembourg discuss how global tax authorities are increasing their automation technologies.

PAPERJAM
ESG: shaping business tax practice
December 2021

Action and perceptions around corporate taxation are now central to ESG’s social and governance aspects. The choices made by investors, clients and employees are driven by their opinions on tax.

AGEFI
Intragroup financial guarantees: to price or not to price?
December 2021

The pricing at market conditions of financial guarantees has attracted increased interest from the tax and treasury teams of many multinational enterprises (MNEs) across the world, following the OECD’s publishing of its Transfer Pricing Guidance.

AGEFI
Obligation de facturation dans les relations «B2G»
December 2021

Une étape significative, ni la première, ni la dernière, de la digitalisation au Luxembourg.

AGEFI
Transfer pricing and the rise of regulation in the alternative investment space
November 2021

Following the 2008 global financial crisis, many countries opted to increase their control and supervision powers of the financial markets.

AGEFI
Circulaire relative au traitement TVA de la formation et de l’éducation
November 2021

Dans cet article, nous examinerons la récente circulaire 808 (1er septembre 2021) de l’Administration de l’enregistrement, des domaines et de la TVA (AEDT) relative à l’accès aux événements éducatifs, aux formations, leçons et recyclage professionnel.

ITR
Luxembourg’s last call to review the impact of the ATAD 2 reverse hybrid rules
November 2021

The Luxembourg parliament transposed the second European Council Anti-Tax Avoidance Directive (ATAD 2) into domestic law via legislation published in the Official Gazette (Mémorial) on December 23 2019.

AGEFI
Revue européenne de la TVA sur les services financiers
October 2021

Analyse sectorielle des réponses à la consultation publique.

ITR
Luxembourg: VAT digitalisation – harnessing technology to enhance VAT management
September 2021

Cédric Tussiot, Antoine Farioli and Stéphanie Porzio of Deloitte discuss how technology can be used in virtually every step of VAT affairs management.

AGEFI
Automatic exchange of information and data protection rules: friends or foes?
September 2021

Since the 2008 financial crisis, two regulatory trends have notably emerged. On the one hand, transparency is being enhanced through increasing reporting requirements (tax or regulatory) and “substance-over-form” rules, notably seen in IFRS or CRR.(1), and on the other, there is a willingness to protect data of investors and customers.

AGEFI
Les réponses à la consultation publique
September 2021

Dans cet article, nous analyserons les réponses à la consultation publique organisée par la Commission européenne du 8 février au 3 mai 2021 et dont le nombre de réponses et commentaires reçus prouve, si besoin en était, l’importance de la question.

ITR
Building a digitally savvy workforce within the tax function
August 2021

Fateh Amroune and Maria Stanisor of Deloitte discuss how tax professionals face the challenges and opportunities created by the digital transformation.

AGEFI
Impacts de la participation à un groupe TVA sur les services entre siège central et succursale
July 2021

Depuis quelque temps déjà, il nous semblait intéressant de consacrer un article à l’arrêt «Danske Bank» rendu par la Cour de justice de l’Union européenne en mars 2021...

ITR
The legal certainty principle in Luxembourg tax law
July 2021

Melanie Delvaux and Michael Klotz of Deloitte Luxembourg explain why Luxembourg’s Constitutional Court’s decision is an important development for the principles of legal certainty.

AGEFI
Beyond COVID-19: Luxembourg employers and employees ready themselves for the future of work
July 2021

Cross-border relations between Luxembourg and its neighboring countries are still bearing the brunt of the COVID-19 crisis.

PAPERJAM
Intellectual property enters new tax era
June 2021

Changes to the taxation of intellectual property enter their final phase on 1 July 1, bringing a five-year transitional phase to an end.

PAPERJAM
La propriété intellectuelle dans une nouvelle ère fiscale
June 2021

Le changement de régime concernant la fifiscalité de la propriété intellectuelle entre dans sa phase défifinitive ce 1er juillet.

AMCHAM
Interview with Bernard David and Pierre-Antoine Klethi
June 2021

Please discuss between yourselves and share with our audience if there has been consistency with regards to the ørst perception and response by high level management to the challenges caused by this crisis and the first step responses?

AGEFI
Luxembourg AIF platforms, a unique reach to growing Asian deployment and distribution
June 2021

The Asia Pacific (APAC) region has developed quickly and become a renowned marketplace for worldwide investors.

AGEFI
How Luxembourg's SIFs fulfil the criteria of a German special investment fund
June 2021

The German special investment fund tax regime, announced in 2018, is still relatively unknown among Luxembourg funds, even as it grows in popularity among German institutional investors.

ITR
Income tax treaty between Luxembourg and Russia successfully renegotiated
May 2021

Nicolas Devergne and Adam Kundrat of Deloitte discuss the amendments made to the income tax treaty between Russia and Luxembourg.

AGEFI
How are tax authorities using your data?
May 2021

Data use and management: The latest front on the tax battlefield

ITR
ITR: Tax governance and the increased focus on TP in Luxembourg
April 2021

Financial services industry players are facing unprecedented tax, legal, and regulatory changes that they can no longer address in isolation.

AGEFI
De nouveaux régimes déclaratifs. Pourquoi, pour qui ?
April 2021

Le 1er juillet 2021, de nouvelles règles TVA concernant es-sentiellement l’économie «digitalisée» et notamment les ventes à distance aux particuliers de biens commandés «online», entreront en vigueur au sein de l’Union européenne.

SFF Magazine
DAC6 in Luxembourg - Can a taxpayer also be an "intermediary" ?
April 2021

The international tax landscape has substantially changed over the last decade, and the fifth amendment to the 2011/16/EU Directive on Administrative Coopera­tion (DAC6) has prompted yet another shift in reporting obligations.

AGEFI
Revue européenne de la TVA dans le secteur financier : Pourquoi?
March 2021

En rendant accessible se consultation publique, le Commission européenne a ouvert le processus qui devrait aboutir en fin d'année à la publication de sa proposition de réforme des règles de TVA applicables aux services financiers.

ITR
A closer look at tax assessments in Luxembourg
January 2021

In recent years, Luxembourg has recorded a continued increase in the number of claims filed by corporate taxpayers with respect to direct tax decisions issued by the Luxembourg tax authorities (LTA). Luxembourg’s declarative tax system and swift-paced framework for the assessment of tax returns makes the Grand Duchy’s tax audit process distinct from that of other countries.

AGEFI
The path to sustainable tax governance in Europe
January 2021

Tax became a focal point for European public opinion in the aftermath of the 2008 financial crisis. Since then, tax transparency towards tax administrations has grown continuously in the European Union. With the shift to sustainable economic growth now the main pillar of the European policy agenda, tax has become a part of corporate sustainability strategies.

ITR
Luxembourg: Mapping the EU’s path to sustainable tax governance
January 2021

Grégory Jullien of Deloitte Luxembourg looks at how tax policy is evolving to create a more transparent and sustainable environment for businesses in the EU.

PAPERJAM
La gestion de la donnée, un enjeu-clé
December 2020

Face à des enjeux réglementaires et fiscaux toujours plus contraignants, les entreprises doivent apprendre à gérer plus efficacement l'information et la production de rapports. Pour cela, il est nécessaire de mettre en place des processus de collecte, de traitement et de partage automatisés de données.

AGEFI
La Cour de justice confirme que les holdings «actives» peuvent déduire la TVA sur leurs «aborted deal costs»
December 2020

La déduction de la TVA par les sociétés holdings est un sujet à la fois complexe au regard de la jurisprudence de la Cour de justice de l’Union européenne (CJEU) et crucial pour les nombreuses sociétés de ce type établies au Luxembourg.

AGEFI
Cash pool leaders that are risk-takers enjoy more tax certainty
December 2020

Cash pooling has recently gained in popularity, as businesses seek to optimize their liquidity amidst the turmoil of the Covid-19 pandemic. Tax rules, however, continue to pose challenges for any treasurer looking to set up such an arrangement.

PAPERJAM
«Digitaliser le secteur Tax, une nécessité»
December 2020

La digitalisation est la croyance en un futur, un business model, une technologie. Pour s’assurer de son succès, accepter le changement et le risque et miser sur des investissements sur le long terme est nécessaire. Peu habitué au risque, le secteur doit toutefois se digitaliser.

AGEFI
Can technology help deal with the complex issue of double tax treaty application?
November 2020

Taxation must keep up with economic developments, including states’ tax laws and tax treaties, which are subject to regular adjustments.
 

AGEFI
Services et livraisons de biens au sein de l'Union européenne
November 2020

Acompter du 1er juillet 2021, les règles applicables au sein de l’Union européenne connaîtront un certain nombre de changements importants.
 

ITR
Luxembourg: EU VAT changes postponed until July 2021
October 2020

Initially scheduled for January 1 2021, EU changes to the VAT treatment of goods and services supplied to mainly non-taxable VAT persons has been postponed until July 1 2021 due to the global health crisis.

AGEFI
Changements TVA 2021(1) : Importations de biens et responsabilité des interfaces électroniques
September 2020

A partir du 1er juillet 2021, de nouvelles règles s’appliqueront au sein de l’Union européenne à un certain nombre d’opérations. Ces modifications devaient initialement intervenir au 1er janvier 2021 mais ont été retardées de six mois en raison de la crise sanitaire.
 

ITR
A closer look at investor tax reporting for Luxembourg AIFs
September 2020

A successful cross-border distribution of Luxembourg-based funds requires a thorough understanding of multiple tax compliance requirements across various countries and jurisdictions.
 

AGEFI
The new FATCA and CRS landscape: A higher level of compliance and controls
September 2020

For about 20 years now, the Organisation for Economic Co-operation and Development (OECD) has been promoting the exchange of information for tax purposes as an efficient way to tackle tax evasion and aggressive tax avoidance.
 

AGEFI
Revisiting transfer pricing for asset managers in the current economic environment"
September 2020

The COVID-19 pandemic has ushered in a new normal for both traditional and alternative asset managers.
 

ITR
UK announces post-Brexit customs tariff
August 2020

One of Brexit’s many impacts is the changes to the tax rules that will happen at the end of the transition period. This includes the movement of goods between the United Kingdom (UK) and the European Union (EU) becoming imports and exports for customs and VAT purposes.
 

ITR
Luxembourg: VAT and customs in a post-Brexit era
August 2020

There is provision in the Withdrawal Agreement for the transition period to be extended until December 31 2021 or even 2022, the UK government has been clear that it does not intend to request an extension.
 

ITR
Assessing the TP impact of the global IBOR transition
July 2020

The replacement of existing IBORs with alternative reference rates (ARRs) is one of the most complex regulatory transformation programmes in recent times, affecting financial firms, corporations and credit market participants with IBOR exposure alike.
 

ITR
Deloitte’s financial services guide: Confronting the new reality
July 2020

Deloitte’s global TP network is pleased to sponsor the 2020 edition of ITR’s special focus guide dedicated to the financial services sector.
 

AGEFI
End of the lockdown: Make it safe … from a tax and social security perspective too!
July 2020

In the face of the COVID-19 outbreak, businesses all around the world had to implement sound business continuity programs to continue operations despite the lockdown imposed by the relevant authorities.
 

AGEFI
Brexit (3) : Le Royaume-Uni annonce son tarif douanier post-Brexit : plus que des chiffres !
July 2020

Dans un précédent article («Implications en matière de TVA et de droits de douane : quid en 2021 ? qu’anticiper ?»), nous avions examiné quelles pourraient être les implications en matière de TVA et de droits de douane de l’éventuel accord à conclure entre l’Union européenne et le Royaume-Uni.
 

AGEFI
Déduction de la TVA par des sociétés holdings : de nouvelles précisions à confirmer par la Cour de justice
June 2020

La déduction de la TVA par les holdings est une question importante pour de nombreux acteurs de la place.
 

AGEFI
DAC6: What do financial institutions need to know about their clients’ tax affairs?
June 2020

DAC6 is the name commonly given to EU Directive 2018/822/EU of 25 May 2018 and refers to the most recent amendment to the EU directive on administrative cooperation in the field of taxation.
 

ITR
Evaluating the EU VAT Committee’s guidelines on “quick fixes”
April 2020

On January 1 2020, the “quick fixes” to the EU’s VAT regulations were transposed into Luxembourg law. These measures aim to simplify, clarify, and harmonise rules applicable to certain intra-Community supplies of goods.
 

AGEFI
Brexit (2) : Implications en matière de TVA et de droits de douane : quid en 2021 ? qu’anticiper ?"
April 2020

Dans un premier article, nous avons examiné la période de transition qui sera applicable, sauf improbable prolongation, jusqu’au 31 décembre 2020, les quelques règles prévues par l’accord de retrait et le régime spécial de l’Irlande du Nord. Dans cet article, nous envisageons ce que pourrait être l’après 2020 et quelques anticipations possibles.
 

ITR
TP article Transfer pricing in financial services: The outlook for 2020 and beyond
April 2020

Deloitte's financial services transfer pricing (FSTP) network provides an outlook on four key transfer pricing trends (TP) that may impact the financial services sector in 2020 and beyond.
 

ITR
OECD’s Chapter X: Three key areas of impact for Luxembourg
April 2020

On February 11 2020, the OECD released the new Chapter X of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations.
 

AGEFI
AGEFI: Lignes directrices du Comité TVA en matière de «quick-fixes» qu’il est difficile de simplifier
April 2020

Dans deux articles précédents, nous avions décrits et commentés les règles dites «quick-fixes» applicables depuis le 1er janvier 2020 à certaines opérations intra-communautaires sur biens et visant à simplifier et harmoniser le régime TVA.
 

AGEFI
The OECD’s Transfer Pricing Guidance on Financial Transactions: Three key implications for Luxembourg
March 2020

On 11 February 2020, the OECD released the report Transfer Pricing Guidance on Financial Transactions: Inclusive Framework on BEPS: Actions 4, 8-10 (the Report).
 

AGEFI
DAC6 en pratique : «Houston, on a un problème !»
March 2020

Depuis son adoption en 2018, la directive UE 2018/822 prévoyant un échange automatique et obligatoire d'informations dans le domaine fiscal en rapport avec les dispositifs transfrontières devant faire l'objet d'une déclaration, fait beaucoup parler d’elle.
 

AGEFI
Brexit: Implications en matière de TVA et de droits de douane: que savons-nous?
February 2020

Les nombreux développements dans le processus du Brexit l’ont rendu difficile à suivre et à comprendre.
 

PAPERJAM
L'OECD s'attaque (enfin) aux transactions financières
February 2020

L’OCDE a publié mardi les lignes directrices applicables aux contribuables luxembourgeois – et internationaux dans le cadre des prix de transfert applicables aux transactions financières.
 

DELANO
The OECD is finally tackling FS transactions
February 2020

On 11 February, the OECD released its guidance on transfer pricing for financial transactions. The organization has been at the forefront of international cooperation in tax and transfer pricing matters for decades.
 

ITR
Luxembourg: Tax impact of the global IBOR transition
February 2020

Regulators globally are spearheading one of the most complex transformation programs in recent times, affecting both financial firms and corporations, under which existing interbank rates (IBR) gradually will transition to alternative risk-free rates (RFRs).