In the past, tax decisions were generally left to specialists. Today, for corporate treasury practitioners, especially those working in multinational organisations, ensuring tax compliance while achieving tax efficiency has become a major responsibility.
Over the past ten years, there has been a progressive move towards the automatic exchange of information. Regulations have increased rapidly with the foreign account tax compliance act (“FATCA”), the common reporting standards (“CRS”) and country by-country reporting, for instance. In March 2020, Luxembourg implemented the MDR Directive. Also known as DAC6, the MDR Directive is the latest European initiative regarding automatic exchange of information and is aimed at further increasing tax transparency.
Treasurers who manage financial data must have a thorough understanding of tax rules in order to manage the tax risks linked to their reporting and decisions.
Luxembourg is a constructive and reliable partner in tax cooperation at European and international level. It has supported all major developments at the European level in the fields of information exchange, administrative cooperation and anti-tax avoidance. The economic, political and fiscal stability represents the distinctive feature of the Grand-Duchy creating an environment of business certainty and investor protection which is unique in Europe.
A FINANCIAL ECOSYSTEM HONED TO
CORPORATE FINANCE FOR INTERNATIONAL BUSINESSES
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FINANCING
Since the development of the eurobond market in the 1960s, Luxembourg has established itself as an international hub for bilateral and syndicated loans in the eurozone and beyond.
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TREASURY SERVICES
Cash management solutions need to be specifically developed to meet the challenges treasury owners face today.
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TAX ENVIRONMENT FOR CORPORATE FINANCE
Today, for corporate treasury practitioners, especially those working in multinational organisations, ensuring tax compliance while achieving tax efficiency has become a major responsibility.
Read More