Search results for

Samantha Schmitz-Merle The Luxembourg tax authorities have recently released a Circular which provides guidance on the tax treatment of income derived by Luxembourg limited partnerships (LP). The Circular follows the changes introduced by the Alternative Investment Fund Managers (AIFM) Law of July 12 2013 which implemented the AIFM Directive (AIFMD) into Luxembourg Law, created the special limited partnership (société en commandite spéciale, SCSp), and changed both the corporate and tax rules applicable to the standard Limited Partnership (société en commandite simple, SCS). While SCS and SCSp are tax transparent entities and therefore not subject to corporate income tax (CIT) in Luxembourg, their business may be considered as commercial and thus subject to Luxembourg municipal business tax (MBT, at a rate of 6.75% in Luxembourg-city) if they effectively perform a commercial activity or if their activity is commercially tainted (that is, if the general partner of the SCS or SCSp is a joint stock company which owns a partnership interest of at least 5%).

Antonio Viñuela

International Tax Review analyses global M&A trends from the past year and highlights the leading firms for tax transactional advice by jurisdiction.

The Ireland special feature is available as a downloadable PDF

Donald Moorehead, partner at Squire Patton Boggs in Washington, DC, assesses the prospects for action towards US tax reform in 2015, explaining that it's no surprise many are looking back at 1986 - the last time reform was achieved - for keys to unlock the process, but significant challenges remain.

In the last quarter of 2007, the European Commission notified Spain of its decision to open a formal investigation procedure under article 88(2) of the EC Treaty concerning the tax regime for the amortisation of financial goodwill. Jose Maria Garcia-Valdecasas Alloza, partner of Balaguer – Morera & Asociados and associate lecturer at the University of Barcelona, explores the EC’s “negative tax harmonisation”

The Portuguese tax authorities have referred a VAT dispute to the ECJ for a preliminary ruling, in what could become a critical case for the deduction of input VAT for exempt activities, and the conduct of the tax authorities.

Abi Briggs and Jon Tilson of Deloitte analyse recent developments regarding indirect taxation of the digital economy, taking into account OECD discussions and unilateral actions being proposed.

With the deadline for the base erosion and profit shifting (BEPS) project still some time away, governments are deliberating whether to take the issue into their own hands and act ahead of final OECD recommendations in December 2015.

After investigating Caterpillar’s US tax returns, the Internal Revenue Service (IRS) is threatening to tax profits the company earned from its Swiss based subsidiary (Caterpillar SARL). Caterpillar claims nothing untoward took place and plans to challenge the IRS through the appeals process.