Pietro Casablanca

📢🗞 Luxembourg 🇱🇺 : The Luxembourg Parliament adopted legislation amending, among other things, the Corporate Income Tax (CIT) Law and the Net Wealth Tax (NWT) Law. ✅️ CIT rate is reduced by 1% (for FY2025, the current 24.94% rate will decrease to 23.87%). ✅️ Possibility to waive the application of the Luxembourg Participation Exemption. ✅️ New minimum NWT regime. Further details here 👇

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The Luxembourg Court of Cassation confirms that the bankruptcy receiver should be a defendant in bankruptcy appeal proceedings. Read our latest newsflash by our experts Ariel Devillers and Eric SAUVAGE and find out why leaving the bankruptcy receiver aside could be fatal. #newsflash #actualité #caselaw #jurisprudence #litigation #contentieux #insolvency #faillite

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The “Law of 27 March 2024 on the digitisation of justice and miscellaneous provisions Ibis” makes certain important amendments to the Belgian Code of Companies and Associations in particular in relation to the company size criteria, the governance of listed companies and the transfer of significant assets by a listed company. In this e-zine, our experts Peter De Ryck and Clément Defechereux give you more details on this topic.   Read it now: 👉 ENG: https://lnkd.in/eiXmya_a   Please feel free to contact our authors with any specific questions you may have.   To stay updated on the latest legal developments, or to attend one of our next seminars, please click here: https://lnkd.in/egvk8q9c #BCCA #CompanyLaw #ListedCompanies #Governance #CompanyManagement

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𝐖𝐡𝐚𝐭 𝐚 𝐫𝐞𝐜𝐞𝐧𝐭 𝐂𝐉𝐄𝐔 𝐫𝐮𝐥𝐢𝐧𝐠 𝐦𝐞𝐚𝐧𝐬 𝐟𝐨𝐫 𝐥𝐞𝐠𝐚𝐥 𝐩𝐫𝐢𝐯𝐢𝐥𝐞𝐠𝐞 𝐚𝐧𝐝 𝐭𝐚𝐱 𝐚𝐝𝐯𝐢𝐜𝐞   We recently advised a Luxembourg law firm on a crucial and widely publicized matter involving an order to disclose tax-related client information based on a request from another EU Member State. This raised significant questions about the scope of legal privilege rules, leading to a recent decision by the Court of Justice of the European Union (CJEU).   In our latest podcast, members of our tax and disputes teams explore this decision and its wider implications, including: the impact of the ruling, the increasing criminalization of tax matters, the influence of other cases on privilege rules, and factors clients need to consider. 🎧 Tune in here: https://lnkd.in/em3akFHY   Jean Schaffner | Julie Kofler | Hippolyte MARQUETTY | Gareth Banfield #CJEURuling #LegalPrivilege #TaxAdvice #LegalPodcast #AOShearman

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In November 2023, the new Luxembourg restructuring law was implemented. While it offers new options for companies to "rescue" their business and compel creditors to accept a restructuring, a certain judicial uncertainty still lingers. Why? Read Anne Marie Nicolas and Veronique Hoffeld's interview on the topic to know their point of view on the new legal framework regarding the Luxembourg restructuring law 👉 https://lawand.tax/3Q2IISK #lawandtax #restructuring #riskmanagement #litigation #luxembourg Delano 

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🌟 𝐄𝐱𝐜𝐢𝐭𝐢𝐧𝐠 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐋𝐮𝐱𝐞𝐦𝐛𝐨𝐮𝐫𝐠’𝐬 𝐓𝐚𝐱 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞 📢 During his State of the Nation Address, Prime Minister Luc Frieden announced a reduction in #Luxembourg's #corporate #tax rate from 17% to 16%, effective 1st January 2025. This adjustment reflects Luxembourg's ongoing efforts to enhance its #attractiveness as a hub for international businesses and investments by keeping its tax policy #competitive and #compliant with global standards. 📊 At White & Case LLP, we have analysed the implications of this tax adjustment along with other fiscal, regulatory, and legal policy initiatives introduced in the Prime Minister's address. Our latest newsletter offers a comprehensive overview of these developments and their potential impact on both Luxembourg and the international business landscape. 💡 Interested in more insights from this address? Discover our newsletter! 🤝 We invite your thoughts on these changes and how they may influence your business strategy. Let's discuss how these evolving policies can benefit your operations and future planning. #LuxembourgTaxUpdate #CorporateTax #StateOfTheNation #BusinessStrategy #InternationalInvestment #WhiteCase

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Cross-Border Dispute Resolution in Tax Matters: A Luxembourg Overview In our latest article published in IBFD, Andrea Addamiano, Tax Counsel at Baker McKenzie Luxembourg provides valuable insights into the procedures available to Luxembourg taxpayers involved in cross-border tax disputes. While the goal of resolving these disputes remains the same, the options can differ significantly when multiple states are involved. Understanding these procedures is crucial for making informed decisions and Andrea’s insights will help you navigate these complexities effectively. The article is available in European Taxation 2024 (Volume 64), No. 11 or online: https://lnkd.in/engpnG6M Baker McKenzie Baker McKenzie Luxembourg IBFD #TaxLaw #CrossBorderTaxation #Luxembourg #IBFD #TaxDisputes #BakerMcKenzie #BakerMcKenzieTax #TaxFromEveryAngle

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[⚡ #Newsflash] - Directors’ fees are not subject to VAT in Luxembourg. On 22 November 2024, the Luxembourg District Court (the Tribunal) has issued a judgment (2024TALCH03/00180) following a preliminary ruling by the Court of Justice of the European Union (CJEU) issued on December 21, 2023 (C-228/22). This decision confirms and applies the CJEU's interpretation of the VAT treatment applicable to directors’ fees. The Tribunal sought the CJEU's interpretation on two key issues concerningdirectors of public limited liability companies (sociétés anonymes) governed by Luxembourg law: 1. Whether the activity carried out by these directors constitutes an "economic activity" within the meaning of Article 9 of the VAT Directive. 2. Whether this activity is carried out "independently." For further information on the CJEU’s decision please refer to our autumn newsletter here: https://lnkd.in/enqKWuMz Read more: https://lnkd.in/gszXFsVB 📧 For further questions, contact our team of experts: Julie Carbiener, Camille Bénézet, Pietro Casablanca, Nicolò Lamperti and Emma Sandoz. #tax #news #insights #law #legal #luxembourg

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🌟𝗙𝗿𝗼𝗺 𝗪𝗼𝗿𝗱𝘀 𝘁𝗼 𝗔𝗰𝘁𝗶𝗼𝗻𝘀 A few weeks ago, we detailed the key measures announced in the State of the Nation address. Today, those words are turning into actions with the introduction of new bill n°8414 in Luxembourg tax law. 📅 𝗢𝗻 𝗝𝘂𝗹𝘆 𝟭𝟳, 𝟮𝟬𝟮𝟰, 𝘁𝗵𝗲 𝗟𝘂𝘅𝗲𝗺𝗯𝗼𝘂𝗿𝗴 𝗚𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 𝘀𝘂𝗯𝗺𝗶𝘁𝘁𝗲𝗱 𝗯𝗶𝗹𝗹 𝗻°𝟴𝟰𝟭𝟰. 𝗞𝗲𝘆 𝗵𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀 𝗶𝗻𝗰𝗹𝘂𝗱𝗲: 🔹 𝘾𝙤𝙧𝙥𝙤𝙧𝙖𝙩𝙚 𝙄𝙣𝙘𝙤𝙢𝙚 𝙏𝙖𝙭 𝙍𝙚𝙙𝙪𝙘𝙩𝙞𝙤𝙣: The corporate income tax rate will be reduced from 17% to 16% for the 2025 tax year, lowering the overall corporate tax burden in Luxembourg City from 24.94% to 23.87%. 🔹 𝙀𝙏𝙁 𝙎𝙪𝙗𝙨𝙘𝙧𝙞𝙥𝙩𝙞𝙤𝙣 𝙏𝙖𝙭 𝙀𝙭𝙚𝙢𝙥𝙩𝙞𝙤𝙣: Actively managed ETFs will benefit from an exemption from the subscription tax. 🔹 𝙀𝙣𝙝𝙖𝙣𝙘𝙚𝙙 𝙄𝙢𝙥𝙖𝙩𝙧𝙞𝙖𝙩𝙚 𝙍𝙚𝙜𝙞𝙢𝙚: Introduction of a 50% tax exemption on gross annual compensation for impatriate employees, capped at €400,000, making Luxembourg more attractive for skilled workers. 🔹 𝙋𝙖𝙧𝙩𝙞𝙘𝙞𝙥𝙖𝙩𝙞𝙫𝙚 𝘽𝙤𝙣𝙪𝙨 𝙄𝙢𝙥𝙧𝙤𝙫𝙚𝙢𝙚𝙣𝙩𝙨: The participative bonus regime will see increased allocation limits and a higher exemption rate for employees. 🔹 𝙔𝙤𝙪𝙣𝙜 𝙀𝙢𝙥𝙡𝙤𝙮𝙚𝙚 𝘽𝙤𝙣𝙪𝙨: A new bonus scheme for young employees under 30, offering a 75% tax exemption on certain bonuses. 🔹 𝙎𝙋𝙁 𝙍𝙚𝙜𝙞𝙢𝙚 𝙐𝙥𝙙𝙖𝙩𝙚𝙨: Amendments include an increase in the annual minimum subscription tax from EUR 100 to EUR 1,000 and updates to compliance requirements and sanctions. 🔹 𝙋𝙚𝙧𝙨𝙤𝙣𝙖𝙡 𝙏𝙖𝙭 𝙍𝙚𝙡𝙞𝙚𝙛𝙨: Various adjustments including increased tax credits for single parents and a new overtime tax credit for cross-border employees. The bill will now proceed through the legislative process, and further changes may be made. 📜 𝗔𝗱𝗱𝗶𝘁𝗶𝗼𝗻𝗮𝗹𝗹𝘆, 𝘁𝗵𝗲 𝗟𝘂𝘅𝗲𝗺𝗯𝗼𝘂𝗿𝗴 𝗧𝗮𝘅 𝗔𝘂𝘁𝗵𝗼𝗿𝗶𝘁𝗶𝗲𝘀 𝗵𝗮𝘃𝗲 𝗽𝘂𝗯𝗹𝗶𝘀𝗵𝗲𝗱 𝗮 𝗻𝗲𝘄 𝗖𝗶𝗿𝗰𝘂𝗹𝗮𝗿 providing a welcome clarification regarding simplified liquidation and dissolution without liquidation, these operations are now explicitly assimilated to mergers, thereby qualifying for the merger neutrality regime, provided that the other conditions are met. For more detailed insights, feel free to reach out to our tax team at White & Case LLP Luxembourg. ☀️Stay tuned for more updates on this significant development in Luxembourg tax law! #TaxLaw #Luxembourg #CorporateTax #TaxReform #Whitecase #LuxembourgLaw #TaxUpdates #Funds #CarriedInterest #ETF #WhitecaseGlobalTax

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On 17 July 2024, bill no. 8414 was tabled to the Luxembourg Parliament (“Tax Package”), introducing certain tax measures. The Tax Package aims at (i) reducing individual taxation and (ii) increasing competitiveness and attractiveness for companies, investors and talent. #DentonsLuxembourg #Tax #Luxembourg #TaxPackage

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[PRESS ARTICLE] 🔍 The evolving landscape of fund subscription documents: Closer look at ATAD 2 and Pillar 2 questionnaires   Delve into the expanding realm of the evolving tax aspects of fund subscription documents with our lawyers Joakim-Antoine Charvet and Delphine Martel. They take a detailed look at ATAD 2 and Pillar 2 questionnaires and explain how these affect investors, and more particularly their obligations in terms of compliance upon fund subscription.    Check out their insight and prepare for what lies ahead by reading the full article 👇 https://lnkd.in/efk4yk7n #LinklatersLuxembourg #AGEFI #Fund #SubscriptionDocuments #ATAD2 #Pillar2

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📅 Changes ahead for RCS filing in Luxembourg! Are you ready? Starting 12 November 2024, Luxembourg companies will face new requirements for filings with the RCS. These changes are designed to streamline data quality and transparency – but they mean companies will need to adjust their processes to stay compliant. Our latest article covers everything you need to know: ✅ What the new requirements entail ✅ Practical steps to prepare ✅ How your business can adapt smoothly and avoid potential pitfalls 👉 Plus, we’ve included a handy diagram to guide you step-by-step through the new requirements! It’s a quick and easy way to understand the essentials. 💼 Our team is here to help you navigate these updates seamlessly and ensure compliance without the hassle. 🔍Check out the full article to get the details and stay ahead of the curve.

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On Tuesday 22 October, the Court of Appeal handed down judgment on the question of whether a State can claim immunity to resist registration of an ICSID award. The proceedings concerned two joined appeals: Border Timbers Ltd and another v Zimbabwe and Infrastructure Services Luxembourg S.A.R.L. and another v Spain. The States in both cases claimed immunity from the adjudicative jurisdiction of the UK courts in proceedings brought by the investors to register and enforce the respective ICSID awards. The basis on which they attempted to resist registration was section 1 of the State Immunity Act 1978 (UK), which accords State immunity to foreign States before the courts of the UK unless an exception as set out in the State Immunity Act 1978 (UK) applies. The Court of Appeal found that foreign states cannot rely on state immunity to set aside the registration of ICSID awards. The 3VB team representing the investors (Border Timbers Ltd and Hangani Development Co. (Private)) in the appeal against Zimbabwe comprised Christopher Harris KC leading Dominic Kennelly and Catherine Drummond, instructed by Edward Poulton, Katia Contos and others of Baker McKenzie LLP. Cameron Miles represented Spain in the joined appeal. Read more here: https://lnkd.in/ehaz2Wvy

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VAT and Director fees : opportunities to reclaim undue VAT in Luxembourg: Almost a year after the ruling of the European Court of Justice (“ECJ”) in the case C-288/22 “TP”, a Circular has finally been published by the VAT authorities to clarify the VAT position of Independent Directors. Read the article here: https://buff.ly/4gs8Ml1 ✍️ Gert Vranckx & Ngoc-My Nguyen

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📣 CJEU judgement in relation to the 8th EU Directive ⚖ The case C-746/22, judged on May 16, was opposing the Slovak-established company against the Hungarian tax authorities. The CJEU confirms that the one-month deadline laid down in Article 20, paragraph 2, of the 8th European Directive for provision of additional documents to the tax authorities of the member state of refund is not a limitation period. In the event of the VAT reclaim rejection due to non-transmission of the requested documents within a period of 30 days, the foreign company has the right to provide them at a later stage within an appeal procedure, regardless the instance : ✔ before a first-tier tax authority (C-133/18) ✔ before a second-tier tax authority (C-746/22) 📌 Thus, non-resident companies having obtained a refusal of VAT refund in Hungary for the reasons mentioned above should consider the ways of appeal. Find more details and analyses in our below article 👇 https://lnkd.in/evqYChQK Siouzanna Maignan #vatrefund #Hungary #CJEU

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On January 11, 2024, an agreement was signed between the tax authorities of Luxembourg and Germany to interpret and apply the double taxation convention, with the goal of avoiding double taxation and preventing tax evasion on income and capital. Under the agreement, Germany will tax all wages paid by Luxembourg employers for overtime worked by cross-border workers resident in Germany. This is due to the fact that Luxembourg's tax legislation fully exempts wages paid for overtime from income tax. As a result, as long as Luxembourg continues to exempt overtime wages from income tax, overtime paid to employees resident in Germany will be taxable in Germany. 👀💻 Read the full article in English, German & French via the link below 👇 👉 Follow #BDOLuxembourg #Tax #Overtime #CrossBorder #GermanCommuters

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🔍 New Survey 🇱🇺 Luxembourg Workers Among Most Dissatisfied in Europe A recent survey has revealed a surprising trend: workers in Luxembourg are among the most dissatisfied in Europe. Despite the nation's reputation for high living standards and economic prosperity, many employees feel undervalued and unhappy in their jobs. Key findings from the survey: High Dissatisfaction: Luxembourg ranks high on the dissatisfaction scale. Key Concerns: Issues include work-life balance, job security, and career advancement opportunities. Impact: These factors are contributing to a notable level of employee discontent. At Expat Management Group, we understand the complexities and challenges that come with relocating to a new country and starting a new job. Our comprehensive immigration and relocation services are designed to support you every step of the way. Relocating to Luxembourg can be an exciting opportunity, and we are here to make sure it is also a positive and rewarding experience. Let us help you navigate the journey with ease and confidence. 🌟 🔗 Learn more about our services and how we can assist you: https://lnkd.in/ep4PVi_r #Luxembourg #Relocation #Immigration #EmployeeSatisfaction #WorkLifeBalance #CareerSupport #LuxembourgLiving #Expats #expatmanagementgroup https://lnkd.in/ekFgPVXB

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