The US Tax Reform is now a reality. And this once-in-a generation tax event has massive implications. It includes several corporate tax provisions that have quite an effect on global companies. Find out what the US tax reform has in store for European companies.
On 1 January 2018, a further strand of the tax reform will enter into force. It mostly affects married cross-border workers who may work out which option is the most advantageous for them. Find out which tax class to choose.
The global tax environment is undergoing a significant amount of disruption. As a response, the Organisation for Economic Co-operation and Development (OECD) published the Base Erosion and Profit Shifting (BEPS) Action Plan. As the cornerstone of the OECD’s recommendations, Country-by-Country Reporting (CbCR) requires multinational groups to include detailed financial and tax information …
On 1 January 2018, Value-Added Tax (VAT) will come into effect for the first time in the Kingdom of Saudi Arabia and in the United Arab Emirates (UAE). Bahrain, Qatar, Kuwait and Oman will follow shortly. So far, these countries have benefitted from significant oil-related income. Yet, a drop in …
The Government updated the Intellectual Property (IP) regime to comply with EU and international tax standards while preserving the country’s competitiveness. The new IP box Bill takes into account the “modified nexus” approach and, if enacted, will become effective in 2018. What stays the same? Eligible net income from qualifying …
VAT is the most widespread form of indirect tax around the world with 162 economies having such a system. And, it continues to mainstream with more countries introducing such systems within the next couple of years. In our new series, we have a monthly look at the countries which have recently introduced …
The world becomes more connected. The digital economy comes of age through mobile technology, cloud computing, business intelligence and real time reporting. So, we see an increasing number of tax authorities and businesses around the world adopting or reforming their VAT compliance systems thanks to technological developments. We examined how …
Luxembourg has just signed the OECD-sponsored Multilateral Convention to implement tax treaty related measures to prevent BEPS. Therefore, the Grand-Duchy becomes one of the 68 countries in the first group of signatories to take this key step towards implementing the OECD/G20 BEPS Project. Once Luxembourg and its co-signatories go on …
Governments across the world are increasingly putting tax transparency at the top of their agenda. In this context, the OECD developed the Common Reporting Standard (CRS) as a global reporting standard to achieve a complete and multilateral automatic exchange of information framework. The Luxembourg CRS first reporting is due on …
The European Court of Justice has recently ruled that Luxembourg’s legislation on the cost-sharing exemption has been transposed too widely. This VAT exemption is widely used by the country’s financial services industry. And the impact of this decision for bankers, assurers and asset managers would likely to be severe. Frédéric Wersand, …
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