Luxembourg adopts new transfer pricing rules and tax ruling processes
On December 19, the Luxembourg Parliament , 2014, enacted new tax measures for corporations and individuals, including amendments to Luxembourg’s transfer pricing legislation and documentation requirements. Multinationals should consider the measures, which are effective as of 1 January 2015, as they affect their existing and future Luxembourg operations. Guidance regarding certain practical aspects of some measures
Belgian reporting obligation for payments to tax havens
Belgian requirements for payments to ‘tax havens’ As from 1 January 2010, companies subject to Belgian corporate income tax or Belgian non-resident corporate income tax are obliged to declare direct or indirect payments exceeding EUR 100,000 to recipients established in so-called ‘tax havens’. The reporting obligation applies to both cash payments and payments in kind.
Luxembourg – Adoption of law revising corporate exit tax rules
On 13 May 2014, the Luxembourg Parliament approved the law (bill n. 6556) amending some of Luxembourg tax provisions that were considered not to be compliant with EU law. The changes are most notably in the area of exit taxation for corporate entities. Key changes: Deferral of the tax liabilities arising upon migration; and “Roll-over”
