Private Equity Information brief

Private Equity Information Brief - June 2011

Welcome to the sixth edition of PwC Luxembourg’s Private Equity Information Brief.

	Content
		Hot topics for Private Equity - 2011 Transfer Pricing Circular – practical analysis New Expatriate tax regime New Minimum corporate income tax charge Beneficial ownership in holding and financing structures (summary of recent Danish case law) End of tax exemption for Management Companies of single FCPs – what does this mean Update on VAT: Regulated Funds: Subcontracted investment advisory services retain VAT exemption benefit Contribution to the Chamber of Commerce Tax unity between sister companies Exclusion of Luxembourg from Brazilian list of preferential tax regimes Highlights of UK budget FATCA Common Consolidated Corporate Tax Base Private Equity Substance survey Other publications Private Equity Advisory brochure - Solutions for Private Equity firms and service providers Outlook - Newsletter LPEA PwC's Academy Private Equity trainings offer

So far fundraising has led the agenda in 2011, with a number of successful closings in the first quarter. Deal activity has been varied but overall a positive return to both the number and size of the primary and secondary deal market. We have yet to see an increase in exits via IPOs although a significant number are in the pre phases. The local market has continued to grow with increased M&A activity and more funds being domiciled in Luxembourg.

Our first hot topic deals with a major adaptation to our tax system with the publication in January 2011 of the Circular on transfer pricing relating to financing activity, while this practice may increase administrative burden, the overall feeling is that the new practice together with other favorable measures to be adopted in the near future enhances Luxembourg’s tax regime.

We hope you enjoy the following news articles and do not hesitate to contact us if you wish to discuss further.

Thank you.

Welcome to the sixth edition of PwC Luxembourg’s Private Equity Information Brief.

Hot topics for Private Equity - 2011

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