Vassilis Dafnomilis’ Post

⏮ [#ThrowbackThursday] ⏮ on our 𝐔𝐊 𝐮𝐩𝐝𝐚𝐭𝐞 𝐫𝐨𝐮𝐧𝐝𝐭𝐚𝐛𝐥𝐞 𝐬𝐞𝐫𝐢𝐞𝐬 𝐢𝐧 𝐒𝐰𝐢𝐭𝐳𝐞𝐫𝐥𝐚𝐧𝐝 ✔ Following the proposed wide-ranging reforms to the tax framework in the UK and the upcoming elections, we organised a series of roundtables in Geneva and Zurich last week to discuss the latest developments with our local partners. 🔎 Chris Edward MA TEP ACSI, Country Manager for the UK with Lombard International Assurance, described the current context and shared some insights into the proposed tax changes and the possible steps which can be taken ahead from a wealth planning perspective. We took this opportunity to ask Chris a few questions on camera 🎥 ❓ 𝑊ℎ𝑦 𝑑𝑜 𝑎 𝑈𝐾 𝑢𝑝𝑑𝑎𝑡𝑒 𝑓𝑜𝑟 𝑦𝑜𝑢𝑟 𝑆𝑤𝑖𝑠𝑠-𝑏𝑎𝑠𝑒𝑑 𝑝𝑎𝑟𝑡𝑛𝑒𝑟𝑠? ❓ 𝐻𝑜𝑤 𝑑𝑒𝑐𝑖𝑠𝑖𝑣𝑒 𝑎𝑟𝑒 𝑡ℎ𝑒 𝑟𝑒𝑐𝑒𝑛𝑡 𝑟𝑒𝑓𝑜𝑟𝑚𝑠 𝑡𝑜 𝑡ℎ𝑒 𝑛𝑜𝑛-𝑑𝑜𝑚𝑖𝑐𝑖𝑙𝑒 𝑟𝑒𝑔𝑖𝑚𝑒 𝑖𝑛 𝑡ℎ𝑒 𝑈𝐾? ❓ 𝑊ℎ𝑎𝑡 𝑎𝑟𝑒 𝑡ℎ𝑒 𝑘𝑒𝑦 𝑡𝑎𝑘𝑒𝑎𝑤𝑎𝑦𝑠 𝑓𝑟𝑜𝑚 𝑦𝑜𝑢𝑟 𝑝𝑟𝑒𝑠𝑒𝑛𝑡𝑎𝑡𝑖𝑜𝑛 𝑡𝑜𝑑𝑎𝑦? 𝐏𝐫𝐞𝐬𝐬 𝐩𝐥𝐚𝐲 𝐚𝐧𝐝 𝐥𝐢𝐬𝐭𝐞𝐧 𝐭𝐨 𝐰𝐡𝐚𝐭 𝐂𝐡𝐫𝐢𝐬 𝐡𝐚𝐬 𝐭𝐨 𝐬𝐚𝐲 👇 #LombardInternationalAssurance #LifeInsurance #ProtectPreservePassOn #MakingLegacyCount

Last week, there was a huge election going on in the European Union – the election for the European Parliament. Citizens in the EU went to poll stations to cast their votes for future MEPs (members of the European Parliaments). But what exactly is the European Parliament? Why it it so important in the EU? As you can tell from its name, the European Parliament is quite similar to national parliament, as it is in charge of making and changing laws, inspecting and approving budgets and supervising other authorities in the EU. Let’s talk about the legislative and budgetary power first. In most cases, the European Parliament shares equal legislative and budgetary power with the Council (that’s another crucial institution in the EU!). Unlike most national parliaments where they enjoy the right of legislative initiative, the European Parliament doesn’t have the official right to initiate a legislative procedure! If they want to make a new law or change an existing law, they have to request the Commission (oops, another important institution in the EU – the executive institution) the initiate the procedure.   Aside from the legislative and budgetary power, the European Parliament also has the supervisory power over other institutions. For example, the appointment of a new president of the Commission requires the approval from the European Parliament. It can also censure the Commission if it deems necessary. The election of the European Parliament takes place every 5 years. This time, 720 new MEPs will be elected. In principle, the seats are allocated proportionately according to the population of Member States. Right now, Germany has most MEPs, with France being the second (because they have more people!). I hope this post helps you understand the basis of European Parliament! If you wish to know more information, you can also visit the following website: https://lnkd.in/eD3VRruK

⚖️ Germany’s economy faces a critical test as the Federal Constitutional Court reviews the legality of the solidarity surcharge, a key tax introduced to support post-reunification efforts. With up to €75 billion at stake, a ruling against the surcharge could deepen fiscal challenges ahead of next year’s elections. 💶 The timing is crucial—Germany is already grappling with an economic slowdown in its key industrial sectors, and federal elections are scheduled for early 2025. A negative ruling could strain the budget further, complicating governmental efforts to balance spending with fiscal responsibility in a period of significant uncertainty. 📉 https://lnkd.in/eUt6txgu #Economy #TaxPolicy #SolidaritySurcharge #FiscalResponsibility #EconomicSlowdown #CourtRuling #PublicFinance 

The Portuguese Legislative Elections 2024 are taking place in Portugal next Sunday. In this document we highlight the tax proposals of the most representative party forces. Find out about the main proposals in the following areas:  - Families;  - Companies;  - Environmental Taxation;  - Digital Fairness;  - Tax Justice. #abreuadvogados #futureinprogress #portugueselegislativeelection

🇦🇹 Austria after the general election: “Big business does not want a pro-#wealthtax party in government.” (Former Vice-Chancellor Reinhold #Mitterlehner in “Der Standard” of 1 October 2024). Interesting for Norway 🇳🇴. Austria is already a high tax country.

Between the election and 2025 legislative sunsets, there is much to consider in the tax world. Join Forvis Mazars for a complimentary webinar as we provide an overview and planning considerations with these upcoming events in mind: https://bit.ly/3XucFiA

Between the election and 2025 legislative sunsets, there is much to consider in the tax world. Join Forvis Mazars for a complimentary webinar as we provide an overview and planning considerations with these upcoming events in mind: https://bit.ly/3XucFiA

Between the election and 2025 legislative sunsets, there is much to consider in the tax world. Join Forvis Mazars for a complimentary webinar as we provide an overview and planning considerations with these upcoming events in mind: https://bit.ly/3XucFiA

Between the election and 2025 legislative sunsets, there is much to consider in the tax world. Join Forvis Mazars for a complimentary webinar as we provide an overview and planning considerations with these upcoming events in mind: https://bit.ly/3XucFiA

Between the election and 2025 legislative sunsets, there is much to consider in the tax world. Join Forvis Mazars for a complimentary webinar as we provide an overview and planning considerations with these upcoming events in mind: https://bit.ly/3XucFiA