In the current environment, the financial sector faces a multitude of different challenges: ongoing volatility in the markets, cost cutting programmes, increasingly complex regulations, and constantly changing tax and operational rules. The complexity of managing these challenges is further increased by the tendency for globalisation and increasing cross-border competition. One of the areas which needs to be managed carefully is the operational tax environment.

11 October 2024 - Danish fund tax regime: 2025 registration by 31 October 2024

Each year, foreign investment funds interested in the Danish retail market should check whether they qualify as equity-based investment companies according to Danish tax rules and should consider registering to the 2025 tax regime before 31 October 2024.

If new share classes are created or existing ones are closed, this must also be registered with the tax administration during the year within 2 months.

26 September 2024 - Drastic Dutch tax reclassifications impacting Luxembourgish funds and investors

From 2025, Luxembourgish and other foreign alternative funds may be reclassified as transparent for Dutch tax purposes, potentially triggering new tax liabilities and more detailed reporting requirements for investors.

6 September 2024 - International Tax updates for India –effective from 27 July 2024

The Indian Finance Bill 2024 introduces several key changes effective from 23 July 2024 and 1 October 2024.

06 November 2023 - Tax update: Egypt, India, Italy, Mexico, Russia and the United States

Egypt: Tax reform package

India: SEBI mandates rules for FPIs carrying out secondary market trades in corporate bonds

Italy: Supreme Court rules on participation exemption for cross-border capital gains

Mexico: Decree formalising adoption of MLI

Russia: Suspension of tax treaty provisions

United States: proposal to provide relief from double taxation between the US and Taiwan

United States: New fast-track processing program for certain letter ruling requests introduced

09 October 2023 - Danish fund tax regime: 2024 election by 31 October 2023

Each year, foreign investment funds interested in the Danish retail market should check whether they qualify as equity-based investment companies according to Danish tax rules and should consider electing the 2024 tax regime before 31 October 2023. We recommend that investment fund managers register by Friday, 27 October 2023 at the latest.

03 October 2023 - Amendments of the taxation of funds in Austria

In the course of the recently published Austrian Venture Capital Fund Act (WKFG), amendments to the tax provisions of the Austrian Investment Fund Act (InvFG) and the Austrian Income Tax Act (EStG) were conducted.

21 July 2023 - FASTER: European Union proposition to simplify withholding tax reclaim procedures

On 19 June 2023, the European Commission issued a new press release presenting their new Faster and Safer Relief of Excess Withholding Taxes (FASTER) proposal, a directive that harmonizes and simplifies the withholding tax reclaim procedure within the European Union. The FASTER proposal aims to prevent double taxation and tax abuse in the field of Withholding Taxes.

23 May 2023 - International AML update for India

Indian government and SEBI announce changes to the 2005 Prevention of Money Laundering Rules and 2019 Foreign Portfolio InvestorRegulations to tighten KYC and AML frameworks. 

19 May 2023 - International tax update for India, Germany and the Channel Islands

India, Germany and Channel Islands updates

5 January 2023 - Adapted version of the Austrian fund reporting scheme from 1 April 2023

The Austrian Ministry of Finance (BMF) released an adapted version of the Austrian fund reporting scheme which must be used for all reporting to the Austrian Kontrollbank (OeKB) from 1 April 2023 onward.