A&O Shearman has issued a reminder for individuals registered with the Luxembourg trade and companies register (LNIN): updating your Luxembourg national identification numbers will remain free of charge only until 31 May 2025.
General Members News During its December 2024 plenary, the European Data Protection Board (EDPB) adopted a statement on the second report of the European Commission on the application of the General Data Protection Regulation (GDPR).
ACA launched its Residence-based taxation (RBT) lobbying campaign at the beginning of July and today officially registered as a lobbyist to move ahead utilizing its political action committee, ACA-PAC. ACA will lobby for RBT and related tax bills in both chambers of Congress.
The European AIF market is one of the fastest growing in the financial sector. To help financial market participants to stay on top of current trends in the AIF space, the AKD Quarterly Update provides information on selected Luxembourg and Dutch legal, tax and regulatory matters within the AIF industry.
ACA has responded to the National Taxpayer Advocate (NTA) on her recent, “Fiscal Year 2025 Objectives Report to Congress” and to the Treasury Inspector General for Tax Administration (TIGTA) on its report, “Opportunities Exist to Improve Taxpayer Service to Underserved, Underrepresented, and Rural Communities”.
General Members News A PwC report highlighting recommendations to the leadership of the Luxembourgish banking industry regarding the ECB’s latest priorities and with two areas not directly covered by the ECB: Tax- and Anti-Money Laundering (AML)-related matters..
ACA responded to a request by the IRS for comments on proposed regulations for Transactions with Foreign Trusts and Information Reporting on Transactions with Foreign Trusts and Large Foreign Gifts.
The Tax Cuts and Jobs Act (TCJA) Repatriation Tax and GILTI Tax were created to tax corporate profits kept for a long time out of the reach of the U.S. Treasury and to help level the international tax playing field for U.S. multinational corporations. They were never meant for the undeclared profits of small and medium-size businesses owned by Americans abroad. The taxes have had a serious financial impact on American small business owners abroad.
On 29 February 2024, ALFI responded to the ESMA consultation paper on technical advice on CSDR penalty mechanism.
General Members News Survey carried out by Luxembourg-based market researcher Quest has revealed a number of insights concerning Luxembourg citizens’ opinions on private businesses in the country.
General Members News ECJ ruled: no illegal State aid in the European Commission's Amazon case Today, the European Court of Justice (“ECJ”) annulled the decision of the Commission[1] that had decided that Luxembourg had granted Amazon unlawful State aid of about EUR 250 million in a tax ruling confirming the arm's length nature of deductible royalty payments by
Update of our information on the application for a business permit.