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Title Topic Date
Tax Alert - A more favorable Double Tax Treaty between Luxembourg and Czech Republic will take effect on 1 January 2015 International Tax - Luxembourg
Luxembourg Parliament voted the draft law approving the Income and Capital Tax Treaty between Luxembourg and Czech Republic, signed on 5 March 2013.
20130918September 2014
Tax Alert - France and Luxembourg sign amendment to tax treaty impacting real estate holding structures International Tax - Luxembourg
On 5 September 2014, the Luxembourg and French Finance Ministers signed the fourth amendment to the double tax treaty concluded between France and Luxembourg. When it enters into force, this amendment will impact the tax treatment of various Luxembourg-France real estate holding structures.
20130915September 2014
Tax Alert - Annualisation of net wealth tax reporting to be introduced Tax - Luxembourg
Practical considerations aiming among others at accelerating the procedure of taxation have led the government to propose an annualisation of the net wealth tax reporting due by collective undertakings and thus to abandon the currently applicable system of triennial determination of the tax base.
20130912September 2014
Managing operational tax risk: survey highlights International Tax - Luxembourg
Finding the right people, processes and technology to manage record-to-report risks is no easy task. To consider how, see our survey’s leading practices.
20130911September 2014
Tax alert - OECD issues Standard for Automatic Exchange of Information in Tax Matters International Tax - Luxembourg
On 21 July 2014, the Organisation for Economic Co-operation and Development (OECD) published the Standard for Automatic Exchange of Information in Tax Matters (the Standard).
20130806August 2014
Tax alert - Double Tax Treaty between Luxembourg and Jersey, Guernsey and Isle of Man International Tax - Luxembourg
Luxembourg Parliament voted the draft law approving the Income and Capital Tax Treaties between Luxembourg and Jersey, Guernsey and the Isle of Man, signed respectively on 17 April 2013, 10 May 2013 and 8 April 2013.
20130806August 2014
Tax alert - Double Tax Treaty between Luxembourg and Taiwan International Tax - Luxembourg
On 12 July 2014 Luxembourg ratified the first Income and Capital Tax Treaty with Taiwan and the Protocol signed on 19 December 2011. Taiwan has already signed the Treaty and the Protocol. Provided that the legal process is finalized within the course of this year, the Treaty will come into force as of 1 January 2015.
20130725July 2014
Tax alert - Outward migration: deferral of exit taxes enacted Tax - Luxembourg
The law dated 26 May 2014 introduces the possibility to opt for a payment deferral of the tax normally due upon outward migration of (i) the statutory seat and place of effective management of a resident company and of (ii) a Luxembourg undertaking or permanent establishment to another Member state of the European Economic Area (EEA).
20130611June 2014
Tax alert - Circular letter on the use of functional currency for tax purposes Tax - Luxembourg
On 16 June 2014, tax authorities have issued Circular letter L.G.-A n°60 providing a framework of rules for companies drawing their annual accounts in a foreign currency and wishing to declare their commercial result, as well as their taxable income, by converting the amounts determined in such foreign currency into euros (functional currency method).
20130611June 2014
Tax Memento Luxembourg 2014 Country Tax Advisory - Luxembourg 20130616June 2014
Tax Memento Luxembourg 2014, Corporate chapter Country Tax Advisory - Luxembourg 20130616June 2014
Tax Memento Luxembourg 2014, Individuals chapter Country Tax Advisory - Luxembourg 20130616June 2014
Tax alert - Double Tax Treaty between Luxembourg and Sri Lanka International Tax - Luxembourg
On 14 June 2013, Luxembourg ratified the first Income and Capital Tax Treaty with Sri Lanka, signed on 31 January 2013. The Treaty and its Protocol have entered into force on 11 April 2014. They will be applicable from 1 January 2015 onwards.
20130611June 2014
Tax alert - VAT changes concerning telecommunication, broadcasting and e-commerce services from 2015 VAT, GST & Other Sales Taxes - Luxembourg
As from 1 January, 2015 the place of supply for these services will become the place where the customer has his permanent address or usually resides. Member States will however have the possibility to subject the transactions to VAT under the ‘effective use and enjoyment’ rules.
20130601May 2014
Shanghai Free Trade zoneInternational Tax - Luxembourg
On 27 September 2013, the State Council published the General Plan for China (Shanghai) Free Trade Zone (the Plan). The Plan sets out the guiding principles with respect to the general requirements, major tasks and measures, supervisory mechanism, tax policies and further opening up of the service sector in China (Shanghai) Free Trade Zone (the SHFTZ).
20140528May 2014
Are you ready to apply for your 2013 VAT refund?VAT, GST and other sales taxes - Luxembourg
The alert reminds taxpayers that they could under some conditions ask for refund of VAT incurred abroad and the delay to do so.
20140523May 2014
Tax Alert - La fin annoncée du report de l'imposition des plus-values immobilières pour les personnes physiquesTax - Luxembourg
En date du 20 février 2014, la Commission européenne a adressé au Luxembourg un avis motivé en matière de transfert de plus-values immobilières prévu par l’article 102 alinéa 8 de la loi concernant l’impôt sur le revenu.
20140522May 2014
Tax Alert - Alternative Taxation models for the VAT treatment of Business to Business Cross-Border Supplies of Goods VAT, GST and other sales taxes - Luxembourg
As indicated earlier the EU Commission has asked EY to conduct a survey regarding the possible solutions to improve VAT rules for the B2B cross border supply of goods. This survey is to be launched on 12 May 2014.
20140425May 2014
Tax Alert - Luxembourg and Mauritius signed new Protocol International Tax - Luxembourg
On 28 January 2014, the Governments of the Republic of Mauritius and the Grand Duchy of Luxembourg signed a Protocol amending the current Double Taxation Avoidance Agreement between the two countries. This Protocol will enter into force when both countries will have completed the ratification procedure.
20140425April 2014
Managing indirect tax in the digital ageVAT, GST and other sales taxes - Global
Multinational companies are handling large quantities of complex data about indirect taxes. We outline hands-on approaches that can help all that information.
20140403April 2014
Tax Alert - Agreement about the Savings Directive has been reached International Tax - Luxembourg
At the European Council meeting of 20th and 21st March, 2014, Luxembourg and the 27 other EU Member States came to a political agreement on the text of the directive amending the European Union Savings Tax Directive (Savings Directive).
20140403March 2014
Tax Alert - Protocol amending the Double Tax Treaty between Luxembourg and Korea International Tax - Luxembourg
Luxembourg and Korea signed a Double Tax Treaty on 7 November 1984 which entered into force on 26 December 1986. A Protocol amending this treaty has been signed on 29 May 2012. The Protocol entered into force on 4 September 2013 and has been effective since that date.
20140319March 2014
Tax Alert - VAT exemption for services to pension funds VAT, GST and other sales taxes - Luxembourg
The Court of Justice of European Union ruled that a defined benefit type pension fund could benefit from VAT exempt management services and gave indication regarding type of exempt as management or payment services.
20140319March 2014
The Luxembourg Financial Connection - Issue 21 Luxembourg
EY’s newsletter on regulatory, leading practices and market developments in the financial services industry from a Luxembourg perspective - including eight articles and covering over 100 new developments.
20140317March 2014
Tax Alert - Double Tax Treaty between Luxembourg and Laos International Tax - Luxembourg
On 14 June 2013 Luxembourg ratified the first Income and Capital Tax Treaty with Laos, signed on 4 November 2012. The Treaty will enter into force on 21 March 2014. The Treaty will be applicable from 1 January 2015 onwards.
20140313March 2014
FSO Alert - EU finalizes UCITS V negotiations - Upgrade of remuneration and depositary requirements Tax - Luxembourg
In February 2014, the European Union reached a compromise agreement on “UCITS V” – a Directive upgrading the UCITS requirements on remuneration policies, the depositary, as well as sanctions. The new requirements will have a substantial impact on many UCITS management companies and their depositaries.
20140306March 2014
Indirect tax in 2014: A review of global indirect tax developments and issues Indirect Tax - Global
How can you improve your indirect tax systems to keep up with today’s landscape?
20140227February 2014
Tax alert - Protocol to the Double Tax Treaty between Luxembourg and Russia has entered into force International Tax - Luxembourg
As of 1 January 2014 the protocol to the Double Tax Treaty between Luxembourg and Russia has entered into force, meaning that the amendments to the Treaty have become applicable.
20140205February 2014
Tax alert - Changes to the Customs law Global Trade - Luxembourg
The European Council has recently approved the Recast of the Union Customs Code (UCC). The adoption of the UCC marks an important step towards the adaptation of the EU Customs regulatory framework to the evolution of the technology.
20140212January 2014
Tax Alert - Double Tax Treaty between Luxembourg and Kazakhstan Tax - Luxembourg
On 16 May 2013 Luxembourg ratified the first Income and Capital Tax Treaty with Kazakhstan, signed on 26 June 2008, and the Protocol to this Treaty signed on 3 May 2012. The Treaty entered into force on 10 December 2013. The Treaty will be applicable from 1 January 2014 onwards.
201401015January 2014
Tax Alert - EU Savings Directive reform timeline delayed but Swiss announce intent to negotiate revised EU agreement Tax - Luxembourg
The proposal to revise the scope of the European Union Savings Directive (EUSD) failed to be approved at the ECOFIN meetings on 15 November and 10 December 2013.
20140106January 2014
Tax Alert - New Luxembourg government announces main aspects of its fiscal policy Tax - Luxembourg
On 2 December 2013, the newly composed Luxembourg government published its coalition program including components of its future fiscal policy.
20131106December 2013
Tax Alert - European Commision proposes amendments to the Parent Subsidiary Directive Tax - Global
On 25 November 2013, the European Commission issued a proposal for an amendment to the EU Parent-Subsidiary Directive. The essential elements of the Proposal are (i) a “linking rule” that is supposed to deal with hybrid loan arrangements and (ii) a more detailed general anti-abuse rule (GAAR).
20131106November 2013
Tax Alert - New Tax Director Circular clarifies application of Net wealth Tax reduction Tax - Luxembourg
Circular I. Fort. n°47 dated 14 November 2013 clarifies certain aspects of Net Wealth Tax Reduction that need to be considered as from 2013 onwards.
20131106November 2013
Tax Alert - Standard Audit File for Luxembourg VAT purposes_November 2013 VAT, GST and Other Sales Taxes - Luxembourg
In 2005, under the auspice of the OECD, the Forum on Tax Compliance Sub-group released the guidance note concerning the Standard Audit File.
20130619November 2013
Tax Alert - VAT: New Circular issued by the Luxembourg VAT Authorities confirming that risk management services for funds could be VAT exempt VAT, GST and Other Sales Taxes - Luxembourg
On 7th November 2013, the Luxembourg VAT Authorities issued a Circular (Circular n° 723 ter) confirming that risk management services for funds could be VAT exempt, including sub-contracted services if the criteria defined by the Court of Justice of the European Union are met.
20130619November 2013
Tax alert - VAT on non-compliant purchase invoices VAT, GST and Other Sales Taxes - Luxembourg
The Court of Justice of the European Union has ruled in its Petroma Case that national tax authorities are entitled to refuse input tax deductions where the purchase invoice lacks required information, even when the missing information is obtained after the VAT audit.
20130619November 2013
Tax alert - VAT: Le Credit Lyonnais: CJEU judgment: Partial exemption: Foreign branch income VAT, GST and Other Sales Taxes - Luxembourg
On 12 September 2013, the Court of Justice of the European Union (CJEU) has ruled in the case of Le Crédit Lyonnais (C-388/11) that a Member State may not authorise a company to take into account the turnover of a branch established in another Member State or in a third State.
20130619September 2013
Indirect Tax Briefing: eighth edition Across the world, the shift from direct to indirect taxation continues. See which global indirect tax trends are transpiring right now. 20130927September 2013
Tax Alert - Draft Law on Patrimonial Foundations Country Tax Advisory - Luxembourg
The Luxembourg Minister of Finance has deposited on 22 July 2013 a draft law n° 6595 on patrimonial foundations.
20130619August 2013
Tax Alert - PPG Holdings - CJEU judgment on the VAT recovery of pension fund VAT, GST & Other Sales Taxes - Luxembourg
An employer can deduct VAT incurred on costs relating to a pension fund established as a separate legal entity.
20130619July 2013
Tax policy and controversy: quarterly briefing The volume and complexity of tax change continues. Alongside key global developments, we highlight corporate simplification, indirect taxes and cooperative compliance. 20130716July 2013
AIF Club alert: Luxembourg open for AIFM applications Country Tax Advisory - Luxembourg
In June 2013, Luxembourg’s Commission for the Supervision of the Financial Sector (CSSF) launched the application process for Alternative Investment Fund Managers (AIFM) and issued a Frequently Asked Questions (FAQ) document. Luxembourg’s AIFM Law, transposing the AIFM Directive (AIFMD) is set to be passed by the Luxembourg Parliament in July 2013, ahead of the 22 July AIFMD transposition and application deadline.
20130619June 2013
EYe on Luxembourg tax: Luxembourg moving towards enhanced cooperation in taxation and exchange of information Tax Policy and Controversy - Luxembourg
Following Luxembourg’s adoption of a Law in March 2013 on administrative cooperation between EU Member States in the field of taxation, Luxembourg also announces automatic exchange of information on interest payments as of 2015.
20130523May 2013
Tax alert: VAT deduction right VAT, GST & Other Sales Taxes - Luxembourg
Alert regarding a circular issued by the Luxembourg tax authorities regarding the VAT deduction right. The Luxembourg VAT authorities impose the direct allocation and special prorata methods based on allocation keys other than that based on turnover. This change is applicable as from 2013.
20130515May 2013
Tax alert: Luxembourg draft law proposes unconditional deferral of exit taxes Cross Border Advisory - Luxembourg
On 15 March 2013, the Luxembourg government submitted a draft law to the parliament amending the exit tax rules for individuals and companies. The draft law provides for an unconditional payment deferral of the capital gains tax until the actual disposal of the transferred assets or the transfer of tax residence outside of the European Economic Area (EEA), i.e., the other 26 Member States of the European Union as well as Iceland, Liechtenstein and Norway.
20130507May 2013
Tax alert: EU Financial Transaction Tax in January 2014? VAT, GST & Other Sales Taxes - Luxembourg
In February 2013, the European Commission presented its Proposed Directive implementing an EU Financial Transaction Tax (FTT) in 11 participating Member States. The FTT will apply, for example, to transactions in equities, bonds, investment funds, and derivatives. The tax will have an impact beyond countries that enact FTT and beyond the financial sector.
20130312March 2013
Tax alert: VAT on management services rendered to pension schemes VAT, GST & Other Sales Taxes - Luxembourg
In its final judgment of 7 March 2013 in the Wheels Common Investment Fund Trustees LTD v Her Majesty’s Revenue and Customs (Case 424/11, hereafter “the Wheels Case”), the Court of Justice of the European Union (CJEU) decided that an investment fund pooling the assets of a retirement pension scheme is not a “special investment fund” within the meaning of article Article 13B(d)(6) and article Article 135(1)(g) of the Council directive Directive 2006/112/EC.
20130308March 2013
Tax alert: Application of the VAT exemption to advisory services rendered to investment fund management companies VAT, GST & Other Sales Taxes - Luxembourg
On 7 March 2013, the Court of Justice European Union (CJEU) released its decision in the Case C-275/11 GfBk Gesellschaft für Börsenkommunikation mbH v Finanzamt Bayreuth. According to the CJEU, advisory services provided by a third party to a management company which is the manager of a special investment fund are to be considered as “management of special investment funds” for the purpose of the application of the VAT exemption.
20130307March 2013
Your bridge between Europe and China: Luxembourg Cross Border Advisory - Luxembourg
Expanding overseas is one of Chinese asset managers' highest short to medium term priorities. This publication sets out why Chinese asset managers should choose Luxembourg as their “hub” to distribute their funds to European and international investors.
20130225February 2013
Luxembourg: the gateway for Islamic finance and the Middle East Cross Border Advisory - Luxembourg
Luxembourg’s position as the leading centre for internationally distributed investment funds, combined with its leading financial centre’s expertise in Islamic finance, make the country an ideal location for the creation and administration of Sharia-compliant investment vehicles and cross-border distribution of investment products.
20130220February 2013
Tax Alert: Broadcasting and television services, January 2013 VAT, GST & Other Sales Taxes - Luxembourg
Choosing Luxembourg as a Place of Establishment to run B2C business
20130120January 2013
Tax alert: Favorable VAT case on insurance linked to leasing services VAT, GST & Other Sales Taxes - Luxembourg
According to the EUCJ, re-invoicing by the lessor of the exact cost of the insurance to the lessee could be VAT exempt. This could give opportunity to claim VAT back.
20130121January 2013
Tax alert: Luxembourg − 2013 amended Budget proposals adopted Country Tax Advisory - Luxembourg
On 13 December 2012, Luxembourg’s Parliament adopted the 2013 Budget introducing specific year-end tax measures. What are the main changes to business and individual taxation for fiscal year 2013?
20121221December 2012
Financial Services alert: Luxembourg proposes one-stop shop for alternatives Country Tax Advisory - Luxembourg
Management companies benefit from a “passport” which enables them to manage UCITS cross-border, enhance their operating model and improve efficiency. This publication outlines the options, the regulatory requirements and key considerations in cross-border management.
20120917September 2012
Cross-border management of UCITS Cross Border Advisory - Luxembourg
Management companies benefit from a “passport” which enables them to manage UCITS cross-border, enhance their operating model and improve efficiency. This publication outlines the options, the regulatory requirements and key considerations in cross-border management.
20120917September 2012
Tax alert: Deutsche Bank AG Case (C-44/11) – VAT on discretionary portfolio management services VAT, GST & Other Sales Taxes - Luxembourg
In its final judgment of 19 July 2012 in the Finanzamt Frankfurt am Main V-Höchst v Deutsche Bank AG (Case C-44/11, hereafter “the Deutsche Bank AG Case”), the European court of Justice (ECJ) decided that transactions relating to the management of securities-based assets, i.e., discretionary portfolio management services, are subject to VAT. This judgment has important implications for the portfolio management industry within the EU. In this alert we briefly discuss the case in question as well as possible consequences and actions to be taken.
20120807August 2012
Securitization alert: CSSF publishes revised best practices document Cross Border Advisory - Luxembourg
In late July 2012 the Commission de Surveillance du Secteur Financier (CSSF) published a Q&A on securitization, resulting from its experience in terms of regulatory oversight of the Luxembourg securitization market since the inception of the Law of 22 March 2004 relating to securitization, as amended (the “Securitization Law”).
20120626July 2012
FATCA Tax Performance Advisory - Luxembourg
The Foreign Account Tax Compliance Act (FATCA) provides the US Internal Revenue Service (IRS) with a tool which strengthens the information and compliance reporting process used to identify US persons who have money invested outside the US. For most Foreign Financial Institutions (FFIs), FATCA compliance is a significant challenge. In February 2012, proposed regulations were issued clarifying a number of FATCA requirements. While there is some good news, the challenge of FATCA implementation remains substantial for most FFIs.
20120717July 2012
Tax alert: New protocol to Polish-Luxembourg - Tax Treaty Cross Border Advisory - Luxembourg
Changes to the Poland – Luxembourg Double Tax Treaty. Impacts on the Luxembourg market. Modifications to the DTT introduced by the Protocol which got signed in June 2012 and will come into force in 2013 (if ratified in 2012). The main changes relevant for asset managers and financial institutions are illustrated in this News Alert which is: real estate and artificial arrangements clauses and credit method for dividends in Poland.
20120626June 2012
Tax alert: The new Germany – Luxembourg Tax Treaty – Changes for Financial Institutions Cross Border Advisory - Luxembourg
Modifications of the new DTT which got signed in April 2012 and will come into force in 2013 (if ratified in 2012). The main changes relevant for financial institutions are illustrated in this News Alert which is: Dividends, Treaty access for funds and participations in specific companies investing into real estate in the other country.
20120626June 2012
Tax alert: Increasing use of prepaid phone cards and similar vouchers VAT, GST & Other Sales Taxes - Luxembourg
How to navigate through the various VATchanges in Luxembourg and in Europe?
20120617June 2012
Our leading securitization team Cross Border Advisory - Luxembourg
Introducing the Luxembourg Securitization Task Force and the services EY offers for the industry
20120517May 2012
Tax alert: Investment funds and VAT exemption of Advisory Services VAT, GST & Other Sales Taxes - Luxembourg
Question referred to the European Court of Justice with regard to the scope of the VAT exemption for management services of investment funds.
20111017October 2011
Tax Alert - How to structure your flow of goods Luxembourg a place of choice VAT, GST & Other Sales Taxes - Luxembourg
The search for strategic placements has led many logistics providers, as well as producers and distributors, to structure their supply chains through Luxembourg
20111004October 2011
Tax alert: VAT aspects Cloud Computing Luxembourg VAT, GST & Other Sales Taxes - Luxembourg
VAT regime applicable to the e-commerce sector before and after 2015
20110913September 2011
Tax alert: Implementation of a VAT free zone regime in luxembourg VAT, GST & Other Sales Taxes - Luxembourg
Luxembourg Tax alert about the Implementation of a VAT free zone regime in luxembourg
20110807August 2011
Tax alert: Luxembourg SPF regime - Removal of the 5% low tax dividend threshold restriction Country Tax Advisory - Luxembourg
A Bill submitted to the parliament plans to abolish the low tax dividend condition provided by the law on the private wealth managementvehicle SPF.
20110804August 2011
Tax alert: Luxembourg introducing new tax measures Country Tax Advisory - Luxembourg
Luxembourg has announced a number of structural tax measures aiming to rebalance the State budget over the coming years
20110804August 2011
T Magazine T Magazine - Global
Tax insight for business leaders
20121017October 2012
International Estate and Inheritance Tax Guide 2012 Personal Taxes - Global
Our guide summarizes the estate tax planning systems and wealth transfer planning considerations in 27 jurisdictions.
20120101January 2012
Europe’s CCCTB proposals Tax Policy & Controversy - Global
The proposal for a Common Consolidated Corporate Tax Base (CCCTB) will create winners and losers. Access all our materials related to the CCCTB proposals.
20110701July 2011
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