The KPMG International Annual Review focuses on our record of achievement and those who define us as an organization: clients, people and communities.
KPMG Luxembourg S.à r.l. presents its 2012 Transparency Report, as required by Article 73 of the Luxembourg Law of 18 December 2009 on the audit profession.
The AIFMD will have a significant re-shaping effect on the alternative investment fund industry in Europe and beyond.
The report addresses the comparison of the competitive advantages of investing in different jurisdictions through a Luxembourg SICAV or Luxembourg FCP.
KPMG in Luxembourg has performed an analysis of the Luxembourg banking market based on statistical and annual accounts data of a selection of Luxembourg banks, and complemented by views of senior bankers.
The participation exemption is one of the most important features of the Luxembourg tax system. It provides a 100% exemption on dividends and capital gains which stem from equity investments. The brochure explains the rules in detail.
his report describes the main views of the UCITS investment managers who participated in our research on the future of the UCITS framework.
In today’s global world, it is increasingly important for companies that operate internationally to assess the attractiveness of countries or markets. Luxembourg has much to offer in this respect.
We seek the facts and provide insights. KPMG Luxembourg organises thought leadership events relevant to the needs of our clients. Find out more about our Events & Seminars below. We are looking forward to meeting you.
Find out more about our handouts 2013.
KPMG TV is an online platform created by KPMG Luxembourg with the aim to share, through various channels, short, smart and up-to-date business insights.
Welcome to KPMG in Luxembourg's Press Room.
"Mainstream funds have already made a big effort in understanding the implications of the new FATCA provisions for their business and the industry’s lobbying activities by EFAMA and ALFI have been very positively received. However, much work still needs to be done. Alternative investment structures are also in the loop and will have to come up to speed and embrace the full complexity of this regulation. Full compliance with the FATCA rules for 2013 is a challenge that cannot be postponed any longer. As FATCA is a lot more than tax reporting, adequate project management will be key."
Under FATCA, a 30% withholding tax applies to any US payments (interest, dividend or sales proceeds) made to an investment fund unless the Foreign Financial Institution (FFI) agrees, pursuant to a disclosure compliance agreement entered into with the U.S. Treasury, to provide information with respect to each ‘financial account’ held by ‘specified U.S. persons’ and ‘U.S.-owned foreign entities.’
The term FFI may include banks, brokers, insurance and reinsurance companies and investment funds, including private equity funds, hedge funds and real estate funds, as well as certain professionals of the financial sector (PFS).
This new reporting and withholding regime presents significant challenges for FFIs in identifying US accounts and subsequently identifying and evaluating relevant payments for compliance. In order to comply with the FATCA provisions and to avoid the 30% withholding tax, the fund must enter into a disclosure agreement with the U.S. Treasury and agree to:
Complying with the FATCA rules will not only be a major compliance task to fulfill due to extended information reporting but will also influence your business strategy and the markets you serve.
The impact on the investment funds is not negligible and requires assistance of specialists.
Consult our FATCA Workshop brochure.pdf (250 KB)
Consult our FATCA Implications for funds brochure.pdf (2.18 MB)
Tel. +352 22 51 51 - 5522
Tel. +352 22 51 51 - 5567
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KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.