Most Read Contributor in Luxembourg, February 2017
In recent months, insurers have been grappling with a number of
tax developments that will deeply affect their business outlook.
The changes have come from different quarters—new direct tax
rules such as minimum and wealth tax; a whole raft of fiscal reform
measures; and new requirements pertaining to
tax transparency and the automatic exchange of information
under FATCA, CRS and DAC2.
Insurers have to pay particular attention to tax transparency
and to the new rules introduced by BEPS. In addition, they have to
ensure that profits are correctly allocated within groups, VAT is
properly handled, transfer pricing principles are adopted and
respected, and country-by-country reporting, in the shorter term,
is fully implemented.
In December, our tax experts shared their experience of the most
relevant, concrete, current and important difficulties met by
insurers, and the elements which must be considered in terms of
governance and the implementation of IT projects. Key messages from
this conference include the game changer that BEPS action 7 on
permanent establishment represents for a Luxembourg insurance
market built on the freedom to provide services, the importance of
documentation and transfer pricing documentation and the upcoming
FATCA/CRS reporting for which KPMG has designed a unique solution
based on integrated and automated reporting tool.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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As the banking industry continues to be shaped by technological and regulatory forces, we’ve gathered our European Central Bank (ECB) experts to hold a conference about this changing landscape. KPMG’s ECB desk from Frankfurt will join our Luxembourg banking partners to unpack the latest news from the ECB, including regulations that will affect the future of banking.
We would be very pleased if you could attend this event, which will be held at our Luxembourg headquarters in Kirchberg on 30 March. The talk will begin at 5:00pm and last until 6:00pm, at which point the evening will be turned over to a networking session with drinks.
Please let us know if you are able to attend by using the registration button above (by 27 March, if possible).
We look forward to seeing you there!
Here in Luxembourg, LPEA are holding an event which will offer new initiatives by bringing General Partners (GPs) and Limited Partners (LPs) together to examine and speak on the industry from the “360” perspective, leaving no stone unturned. We are a sponsor of the event, as well as having a speaker present. David Capocci, Partner and Head of Alternative Investments will be offering his own insight on the industry nowadays.
Since the PRIIPs Regulation was published on 9 December 2014, the concept of a multi-option product has been one of the most discussed topics among the manufacturers of insurance-based investment products.
Directors & Officers Insurance (D&O) is a relatively new
branch of insurance in the United Arab Emirates (UAE) market.
Accordingly, issues such as allocation of costs have not yet been
considered by UAE or Dubai International Financial Centre (DIFC)
From August 12 2016 when the UK's Insurance Act 2015 takes effect there will be differences affecting business (ie non-consumer) policies issued in Isle of Man and those issued in UK, including renewals.
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