Find out more about the imminent changes to Luxembourg's network of tax treaties following the signature of the BEPS Multilateral instrument (MLI)
When tested for purpose, will your business qualify?
Worldwide Corporate Tax Guide 2017
Tax Alert - Luxembourg explains its positions on Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS
Managing indirect tax refunds
Outlook for global tax policy in 2017
Tax transparency’s new normal
Financial Services - connected?
Luxembourg Tax Memento 2017
Seeking certainty as tax disputes increase
We’ll help you navigate the global tax landscape
The business and tax landscapes have changed dramatically, and the pace and complexity of change continues to increase. We can help you navigate this shifting landscape. Governments are tempering the need for revenue with increased competition for labor and capital. Tax authorities are adapting their enforcement strategies, focus and policies in response to the changing dynamics of business. Companies are balancing competing priorities, ensuring they maintain compliance while adding value. We can assist you with these critical issues in today's tax environment, including:
- Customer Tax Reporting
A global changing regulatory environment as well as increased client demands in relation to reporting and transparency have brought private client tax services into sharp focus.
Customer Tax Reporting is becoming increasingly important, driven by customer demand and regulatory influences. Many financial institutions are now focusing their attention on this area, taking a fresh look at personal tax services and how they link in with the wider customer experience, especially for high net worth and ultra high net worth customers, along with looking at ways to enhance the overall customer experience by reducing risk, managing quality and costs.
- Seizing the opportunity in Global Compliance and Reporting
Global Compliance and Reporting (GCR) is at a tipping point, with risks on the rise. Many companies distribute responsibility for GCR processes throughout their organization, creating a patchwork. Local jurisdictions are rewriting regulations, focusing more intently on the collection of tax revenues and sharing more taxpayer information across borders.
Due to the combination of evolving business models, transforming finance functions and an increasingly complex regulatory landscape, there are new opportunities to better optimize efficiency, control and value, to help mitigate risk and improve performance.
What is Global Compliance and Reporting?
GCR comprises the key elements of a company's finance and tax processes that prepare statutory financial and tax filings as required in countries around the world. These duties include:
- Statutory accounting and reporting
- Tax accounting and provisions
- Income tax compliance
- Indirect tax compliance
- Governance and control of the above processes
GCR activities reside in the middle of a broader set of record-to-report (R2R) processes. R2R is the intersection between any company's finance and tax departments and is used to capture, process and store information that is essential to statutory accounting, tax compliance and reporting. Any change to R2R processes, information, finance systems, roles and responsibilities will have a direct impact on GCR processes.
Helping you meet the new GCR demands
Fast changing compliance and reporting requirements are more demanding on tax and finance functions today than ever before. So how do you improve control and quality, manage risk, create efficiency and drive value?
Our market-leading approach combines standard and efficient processes, highly effective tools and an extensive network of local tax and accounting subject matter professionals.
The OECD’s website indicates that the Base Erosion and Profit Shifting (BEPS) project “is looking at whether, and if so why, MNEs taxable profits are being allocated to locations different from those where the actual business activity takes place.” Based on the findings of an initial environmental scan, the OECD plans to implement what they describe as an “integrated and holistic approach to improve the concrete tools it has to address base erosion and profit shifting”. According to their website1 key areas of work of the OECD in which this is a current focus include:
- Harmful tax practices
- Aggressive tax panning
- Transfer pricing
- Tax treaties
- Tax policy and statistics
- Tax and development
- Tax Compliance
Visit our dedicated BEPS page for more informations and contacts
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As taxpayers and governments seek certainty, they must find better ways to resolve disputes, or avoid them altogether. Learn more in Tax Insights.
Luxembourg Tax Memento 2017
The Luxembourg Tax Memento 2017 pocket-guide summarizes the main Luxembourg tax rates and taxation principles applicable for both corporate and individual taxpayers.
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