Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 6
LUX NEWS
DIRECT TAX
LE MAGAZINE DU TRESORIER / TREASURER MAGAZINE
-
N°99
- NOV /
DEC / JAN 2018
Law of 29 August 2017 amending the
Labor Code as regards continuous
vocational training
6
This law introduces several amendments to existing provisions that relate
to continuous vocational training. The
co-financing, which consists in State
financial support, is reduced from 20%
to 15% of the investment in training,
whilst the rate of 35%, currently
applicable to certain categories of
employees (employees without formal
qualification and employees aged over
45 years) is maintained. The level of
investment qualifying for co-financing
is capped depending on the number of
employees occupied: between 1 and 9
employees, the investment is capped at
20% of the wage bill as of 31 December
of the preceding year, between 10 and
249 employees at 3% and for more than
249 employees at 2%. Certain costs
no longer qualify for this incentive and
the length of specific job adaptation
training that can be co-financed is
reduced from 173 hours to 80 hours per
accounting year.
Draft law on new intellectual
property (IP) regime
Following the abolishment of the old
IP regime by the 2016 Budget Law, the
Minister of Finance has introduced in
Parliament draft law n°7163 on a new
regime. The old IP regime, as foreseen
by article 50bis of the Income Tax Law,
was terminated on 30 June 2016, albeit
with a transitional grandfathering
period of five years. It was withdrawn
because it was not compliant with the
so-called "nexus approach" as agreed
at the level of the OECD in its final report on Action 5 of the BEPS report. To
be precise, under the "nexus approach"
the application of an IP regime should
be dependent on the level of research
and development activities carried out
by the taxpayer itself. The adapted IP
regime, to be introduced in the Income
Tax Law through a new article 50ter,
provides for an 80% tax exemption of
the net income derived from qualifying
IP. Based on the agreed nexus approach, the net income that qualifies for
exemption is calculated by reference to:
- The nexus ratio: this is the proportion
of qualifying expenditure (mainly expenditure incurred for the purpose of
research and development activities)
to overall expenditure, applied to
- The net eligible income from the IP
asset, adjusted and compensated
according to the provisions of the
draft law.
Once approved by Luxembourg's
parliament, the provisions of the new
IP regime should apply as from fiscal
year 2018.
Implementation of the mutual
agreement procedure foreseen
by double taxation treaties
The Tax authorities have issued Circular
L.G. - Conv. D.I. n°60 of 28 August 2017
describing rules for the implementation
of the mutual agreement procedures
provided for in double taxation treaties
concluded by Luxembourg. The Circular
states that access to the mutual
agreement procedure must be granted
when an anti-abuse provision, foreseen
either by a treaty or by domestic law,
applies; this is applicable to transfer
pricing issues as well as any other
taxation issue which is not compliant
with the provisions of a double taxation
treaty. Access to the mutual agreement
procedure may also be granted by
Luxembourg where adjustments have
been made in another country towards
a taxpayer acting in good faith. Access
may however be denied if, inter alia,
the period for introducing a claim has
elapsed or the criterion of residence is
not fulfilled. The Circular lists the information and documents to be added to
the request, describes specific details
about the procedure such as criteria,
deadlines and steps for introducing a
request, and how it is handled, as well
as clarifying how the mutual agreement procedure interacts with other
procedures and appeals.
John Hames,
Partner,
EY Luxembourg
Katia Agazzini,
Director,
EY Luxembourg
Table des matières de la publication Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018
COUVERTURE
SOMMAIRE
EDITORIAL
FINANCIAL HIGHLIGHTS Luxembourg Tax News
INTERVIEW with Dick Oskam, Head of Sales for Transaction at ING
FOCUS
Value generation - How to create (more) value for the company with a better capital allocation
Managing bank accounts, the Cinderella of treasury management
Treasury on the Digital Front Line
FORUM
Implementation of EU Tax Rules
Innovative payments solution
Construction de portefeuille : combiner gestion active et passive
Decision Time: Investing in Money Funds after EU Reforms
Payments as a Strategy
Are asia’s corporates ready to repo?
The evolving role of treasurers
THE FINANCIAL RISK OBSERVATORY
NEWS
LIFE BEYOND NUMBERS
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - COUVERTURE
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 2
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - SOMMAIRE
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 4
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - EDITORIAL
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - FINANCIAL HIGHLIGHTS Luxembourg Tax News
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 7
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - INTERVIEW with Dick Oskam, Head of Sales for Transaction at ING
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 9
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Value generation - How to create (more) value for the company with a better capital allocation
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 11
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 12
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 13
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Managing bank accounts, the Cinderella of treasury management
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 15
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 16
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 17
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 18
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Treasury on the Digital Front Line
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 20
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 21
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Implementation of EU Tax Rules
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 23
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Innovative payments solution
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 25
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Construction de portefeuille : combiner gestion active et passive
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 27
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Decision Time: Investing in Money Funds after EU Reforms
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 29
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Payments as a Strategy
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 31
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Are asia’s corporates ready to repo?
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 33
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - The evolving role of treasurers
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 35
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 36
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - THE FINANCIAL RISK OBSERVATORY
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 38
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 39
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 40
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - NEWS
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 42
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 43
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 44
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 45
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 46
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 47
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 48
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 49
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 50
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 51
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 52
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - LIFE BEYOND NUMBERS
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 54
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 55
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 56
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