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Global financial services industry

Global financial services industryFinancial services institutions operate in an environment facing more than ever rapidly changing regulations and constant market evolution.

Working with tax professionals who have a regulatory and financial industry background who understand the challenges and have a broad and in-depth technical tax knowledge will help you to be competitive, compliant and position yourself one step ahead.

The Global Financial Services Industry (GFSI) team through its multidisciplinary offering provides innovative and highly specialised tax consultancy services and tax compliance services for financial institutions, all other actors in the financial market, investments funds and other investment vehicles, insurance companies.

Our specialist financial services team provides deep technical advice on complex issues, delivering highly innovative solutions to suit the particular needs of our clients. Our international GFSI network with its dedicated tax specialists enables us to respond to all cross border issues and provide appropriate solutions tailored for your needs.

GFSI

We advise on all aspects of financial services tax planning, including:

  • Assistance in the reorganisation of transactions for Banks, Investment Funds and Insurance companies;
  • International tax advisory services, both in- and outbound;
  • Optimisation of the tax burden on financial transactions;
  • Assistance in developing tax effective strategies for financing and capital transactions;
  • IFRS tax assistance;
  • Operational Tax services;
  • Tax advice on the EU Savings Directive;
  • US Qualified Intermediary implementation and tax compliance services;
  • Tax consulting in connection with the US FATCA regime;
  • Transfer pricing services and Advance Pricing Agreement support;
  • Tax compliance services.

Related links - Deloitte

  • FATCA (Foreign Account Tax Compliance Act)
    Visit our website where you will find useful resources on latest FATCA developments
  • Operational tax matters
    Foreign Account Tax Compliance services | EU tax reclaim opportunities | EU Savings Directive | The Tax Matrix | Pan-European tax reporting | Tax reporting for private banking clients | The Qualified Intermediary regime
  • Operational tax news
    Alerts on tax issues or developments impacting banking and financial sector companies

Related links - External

  • ExternalURL
    ABBL
    Association des Banques et Banquier, Luxembourg
  • ExternalURL
    ALFI
    Association of the Luxembourg Fund Industry
  • ExternalURL
    CSSF
    Commission de Surveillance du Secteur Financier
  • ExternalURL
    C.A.
    Commissariat aux Assurances
  • ExternalURL
    Luxembourg for Finance
    Agency for the Development of the Financial Centre

Contacts

  • Pascal Noël
    Partner - Tax - International Tax-GFSI
  • François Guilloteau
    Partner - Tax - International Tax-GFSI
  • Jacques Linon
    Partner - Tax - International Tax
  • Michel Guilluy
    Partner - Tax - International Tax-GFSI Leader

Publications

  • ExternalURL
    New tax reporting requirements for foreign investment funds distributed in Italy | Press article
    In September 2011, the Italian parliament ratified a decree law introducing measures aimed at providing financial stability and boosting growth in Italy.
  • ExternalURL
    The Aberdeen case - Taking it to the next level | Press article
    Many players in the fund industry, and more specifically the fund managers, are aware that the European Court of Justice's Aberdeen case was ruled on 18 June 2009.
  • ExternalURL
    Emerging countries tax constraints... or why you should pay attention to our tax news alerts | Press article
    Amongst all the challenges that Luxembourg investment funds have had to face during the recent economic crisis, there was also the constant amendments to the tax laws implemented in many countries.
  • ExternalURL
    UCITS IV management companies: the dark (tax) side of the EU passport | Press article
    The upgrade of the UCITS III European Directive to UCITS IV status must be enacted within national law by mid 2011.

More Learn more

  • Increase of Tax on Financial Income in Italy - 08/07/2014
    As from 1 July 2014, the 20% domestic withholding tax currently applicable to certain dividends, interest and capital gains has increased to 26%.
  • FFI list available - Latest IGA - 06/06/2014
    The IRS published the first list of “FFIs” registered on the IRS portal as of 23 May 2014 to be compliant with FATCA as either participating FFIs or otherwise registered deemed compliant FFIs.
  • Luxembourg-Russia DTT clarification - 30/05/2014
    Guidance Letter from the Russian Ministry of Finance on the application of the Luxembourg-Russia Double Tax Treaty to Luxembourg collective investment funds
  • Form 1042 and instructions released by the IRS - 20/05/2014
    On 8 May 2014, the IRS has published the 2014 Form 1042 (Annual Withholding Tax Return for U.S. Source Income of Foreign Persons) and corresponding instructions.
  • New Austrian fund tax reporting regime - 14/05/2014
    New Austrian fund tax reporting regime being applicable for business years starting in 2015 at the latest.

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