Luxembourg

Insurance and reinsurance 

In the wake of the global financial crisis, the insurance industry in Luxembourg faces uncertain conditions. Market conditions are squeezing both credit spreads and investment returns. Nevertheless, the Luxembourg government actively pursues a policy aimed at developing Luxembourg’s existing insurance and reinsurance industry. This environment puts a premium on timely and sound business decision-making.
Aberdeen tax Reclaims
In 2009, the ECJ decision in the Aberdeen Case was a milestone judgment for the abolishment of the discriminatory taxation of cross-border dividends.  Great opportunities for investment funds to reclaim millions of unduly paid withholding taxes.

BEPS
Base Erosion and Profit Shifting (BEPS) is a worldwide intense project of modernization of the international tax system that may affect most multinational enterprises.

Exchange of information
Tax transparency and exchange of information have been extensively discussed at both European Union (EU) and international level over the past years.

FATCA
Enacted in March 2010, the goal of FATCA is to obtain information relating to U.S. persons that have offshore accounts or investments in order to combat offshore tax evasion by such persons.

IPT 
Luxembourg has an insurance premium tax, which is applicable if the insured risk is located in Luxembourg

VAT
Participants in the global investment management industry are facing unprecedented complication of managing their tax affairs both locally and across multiple jurisdictions.

Get in touch with KPMG

Contact

Sébastien Labbe

Partner

Tel. +352 22 51 51 - 5565

sebastien.labbe@kpmg.lu

 

Frank Stoltz

Partner

Tel. +352 22 51 51 - 5520

frank.stoltz@kpmg.lu