Thomas Adamkiewicz

Absence of VAT on director fees in principle. But need to check your exact own situation. Circular 781-2 of the Luxembourg indirect tax authotities regarding VAT on director fees has just been released and explains the position of Luxembourg tax authorities in this respect further to the ECJ 2023 C-288/ 22 case and local Luxembourg tribunal decision of 22 November 2024, number 2024TALCH03/00180. Key VAT concept for determining whether VAT applies on director fees is the independance of the director, whether it performs his/her activity independently. Directors who consider that VAT should not have applied to their director fees as from 2018 should be able to claim back VAT unduly paid as from next week on the webplatform Myguichet. Circular has not limited the possible claim to the director fees received for mandates in SAs, i.e., in Luxembourg public limited liability companies, but to all mandates where VAT has been applied.

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A&O Shearman's Luxembourg M&A and financial services regulatory teams have successfully advised global specialist provider of corporate & global expansion, active wealth, pensions & incentives and fund services ZEDRA Group in its strategic investment in RBB Business Advisors, a French firm specializing in accounting, HR, and tax services for both domestic and international clients.   This expansion will see ZEDRA integrating 33 employees from RBB Business Advisors, increasing its total headcount to over 1,200 professionals across 17 countries throughout Asia, the Americas, and Europe.   The advisory team was led from Luxembourg by partners Jacques Graas and Baptiste AUBRY, alongside counsel Alann Le Guillou, senior associates Anne-Sophie Besançon, Joachim Apra, Victor Ferreira, associate Angeliki Kontodimos and junior associate Damien Frutuoso.   #MandA #CorporateServices #WealthManagement #FundServices #LuxembourgLaw #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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🔍 Curious about the latest developments in UCI taxation? Dive into the newest insights from our expert tax lawyer, Patrice Delacroix, in collaboration with PwC Luxembourg's expert, Sidonie Braud! 🌟 In his recent contribution, Patrice explores: 1️⃣ The core principles of the Belgian net asset tax for UCIs. 2️⃣ Recent case law developments on treaty protection for foreign UCIs. 3️⃣ The implications of these aspects for Luxembourg funds in the Belgian market. 📊 Don't miss out on this detailed analysis relevant for Luxembourg funds offered in Belgium or investing in Belgium. 🔗 Read the full article on https://lnkd.in/eiBgkiqk #PwCLegal #TaxLaw #UCITaxation #LuxembourgFunds #NetAssetTax #BelgianWithholdingTax

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BCC TAX & LEGAL NEWSLETTER 2024 #6 The present newsletters issued by member firms of the Tax and Legal groups cover the period from September to October 2024. https://lnkd.in/eEvY-mFG

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Marilène Marques, Deputy Head of Business Unit Legal Governance, Spuerkeess, and Nenad Ilic, CFA, Financial Services Tax Leader, PwC Luxembourg, who are closely involved in the ABBL's tax workstreams, share their expert views on the new FASTER Directive, which aims to streamline withholding tax procedures across the EU. 🚩 However, the implementation comes with its challenges, especially for financial institutions that must meet strict compliance obligations and manage significant workloads. Key highlights: 🔹 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗧𝗮𝘅 𝗥𝗲𝘀𝗶𝗱𝗲𝗻𝗰𝗲 𝗖𝗲𝗿𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗲 (𝗲𝗧𝗥𝗖): A standardised, EU-wide certificate issued within 14 days, confirming investors' tax residence. 🔹 𝗙𝗮𝘀𝘁-𝗧𝗿𝗮𝗰𝗸 𝗣𝗿𝗼𝗰𝗲𝗱𝘂𝗿𝗲𝘀: Relief at source and quick refund systems to ensure immediate application of the correct tax rate and timely refunds of excess tax. 🔹 𝗖𝗲𝗿𝘁𝗶𝗳𝗶𝗲𝗱 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗜𝗻𝘁𝗲𝗿𝗺𝗲𝗱𝗶𝗮𝗿𝘆 (𝗖𝗙𝗜): Large financial institutions will need to register as CFIs, complying with new obligations to collect eTRCs and assess investors’ eligibility for reduced rates. 🔗 Read the full article by our experts for an in-depth understanding: https://lnkd.in/emS5cP-M The ABBL is committed to supporting its members in the implementation of this new framework. We look forward to discussing potential challenges and finding solutions with all stakeholders. 🤝 👉 For more information or questions, please contact Laetitia Carroz, Senior Adviser - Tax at the ABBL.

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On 18 June 2024 at the Luxembourg for Finance “Focus on Corporate Finance” conference, Partner Linda Funck will be moderating a panel entitled “Understanding securitisation”. Don’t hesitate to connect with Linda to discuss this or other Luxembourg Law matters in an ever evolving financial industry. For more information about the conference please click here: https://lnkd.in/d2H9VSRX #luxembourglaw #securitisation #LFF

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🖋 The Chambers and Partners Alternative Funds 2024 | Global Practice Guide is now available   Our experts from the Investment Funds and Tax teams are pleased to have contributed to the publication of this comprehensive guide, addressing key questions about Luxembourg's investment funds landscape and offering legal and tax insights to help market players make informed decisions.   🔗 Explore our experts insights and practical advice: https://lnkd.in/eGQSWZgz   Chambers and Partners #InvestmentFundsLuxembourg #TaxLuxembourg

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See our latest contribution on an article discussing tax dispute trend in Luxembourg

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📢🗞 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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#Read the latest Praxio Law & Tax Fund #Finance Magazine (Luxembourg ) https://buff.ly/3MMactR #Law #Banking #GlobalTrends

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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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🚨 Important VAT Updates Ahead of 2025! As of January 1st, 2025, Luxembourg's VAT law will undergo some changes, following the submission of bill n°8406. The key provisions to take note of: 🔹 Change in VAT localization rules for virtual events 🔹 Adjustments for the art sector 🔹 Restructuring of the special scheme for small enterprises 💡 These provisions will bring clarity on the VAT treatment for some supplies (art and virtual events) and simplify VAT obligations for (small) businesses. For more detailed insights, check out our newsletter: http://kpmginfo.lu/3AQK7XL With Maria Anna Nonweiler and Samuel Cazes KPMG Luxembourg

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📢 The board of the Luxembourg Bar Association speaks out! The opinion from the board of the Luxembourg Bar Association on the proposed Bill of Law number 8286, aimed at modernizing the accounting legal framework, has been revealed! Released on May 6, 2024, this opinion is packed with insights and critiques that are bound to spark some serious discussions! 💼💡 💡 Here's a snapshot of the key points scrutinized by the board of the Luxembourg Bar Association: - Criticism towards the proposed mandatory requirement for systematic auditor reports on dividend payments for SAs, SEs, and SARLs, regardless of size. - Scrutiny over the elimination of auditors/supervisory boards in SAs, SASs, SARLs, and supervisory boards in SCAs. - Questioning the necessity of audits for "major holdings (grandes holdings)" due to associated costs, administrative burdens, and limited benefits. - Lack of clarity regarding financial statement deposits for certain SCSp companies and account balance requirements for others. - Disapproval with provisions of the Bill of Law mandating the approval of consolidated accounts by general assemblies. - Concerns over the proposed maximum duration of the first financial year. - Analysis of the new definition of "control" and its implications. - Advocating for electronic storage of accounting documents. - Critique on continuous verification of minimum share capital when financial statements are in a currency other than the euro. - Alarm raised against the concept of a floating financial year and its potential for accounting manipulation. - Insistence on maintaining the current liquidation procedure, opposing the removal of the second general meeting. 🔍 Curious to delve deeper? Click here to read the full opinion: https://lnkd.in/djN4WbRk 🔍 Got questions or need assistance navigating this legal maze? Reach out to Miroslava Jassova, our Legal counsel, for expert guidance and support. Want to revisit the original Bill of Law or explore related articles? 👉 - Brouxel & Rabia original article: https://lnkd.in/eArWwgCf - Brouxel & Rabia article summarizing the Opinion of the Order of Chartered Accountants on the Bill of Law : https://lnkd.in/e4fVVB8a - Link to the Bill of Law: https://lnkd.in/d3WQVAxU Don't miss out on this pivotal moment in Luxembourg's financial landscape! 💼💥 #LegalInsights #Opinion #LuxembourgBar #AccountingReform #LuxembourgLaw #brouxelrabia

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Let‘s meet 14 June 2024 to speak about company and business restructuring (legal and tax aspects) !! I will be happy to explore with the best practices about structuring M&A deals Register via the link below !! Chevalier & Sciales ABILWAYS Luxembourg

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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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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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