http://www.pwc.com/lu PwC Luxembourg: Latest publications, news, press items and more from our industry experts en-en 2012 PricewaterhouseCoopers S.à.r.l. http://cyber.law.harvard.edu/rss/rss.html http://www.pwc.lu On 16 May 2013, the Luxembourg Parliament enacted bill n°6501/03 (the "Bill"), introducing 8 new protocols (the "Protocols") and 7 double tax treaties ("DTTs") concluded by Luxembourg. Wed, 22 May 2013 16:15:00 +0100 Le 21 mai 2013, l’administration fiscale luxembourgeoise a émis une circulaire visant à remplacer la circulaire du 31 décembre 2010 relative à l’encadrement fiscal des dépenses et charges en relation avec l’embauchage sur le marché international de salariés hautement qualifiés et spécialisés. Wed, 22 May 2013 10:30:00 +0100 On 21 May 2013, the Luxembourg tax authorities issued a circular (hereafter "the Circular") which replaces the circular dated 31 December 2010 relating to the tax treatment of charges and expenses in connection with hiring highly qualified and specialised employees from abroad. The new circular relaxes the requirements to be met under the regime and aims to encourage specialists to come to work in Luxembourg. The circular’s provisions apply retroactively to 1 January 2013. Wed, 22 May 2013 08:30:00 +0100 3W is an enhanced web-based service providing users with up to date details of changes impacting the distribution of cross-border funds. 3W covers many key jurisdictions from a regulatory, tax and fund distribution perspective. Fri, 17 May 2013 16:00:00 +0100 Uncertainty remains high in Luxembourg and Europe, with PwC's business barometer dropping to zero in May after a similar performance in the previous month. Overall, the trend in 2013 resembles that of the previous year. Wed, 15 May 2013 16:30:00 +0100 The text for the AIFMD was adopted by the European Council and Parliament in May 2011 and came into force on 21 July 2011. EU Member States have until 22 July 2013 to transpose AIFMD into their national law. On 19 December 2012 the European Commission finally published its adopted Level 2 Delegated Regulation (Level 2) for the Alternative Investment Fund Managers Directive (AIFMD). Tue, 14 May 2013 16:30:00 +0100 PwC Luxembourg in association with the Luxembourg Stock exchange publishes a new brochure about Sukuk listing in the Grand Duchy. This document distributed on 6 May 2013 during the Journée boursière provides an overview of the Islamic Finance Market in Luxembourg and highlights the benefits of Sukuk Listing and Trading in Luxembourg. 16 Sukuk have been listed on the Luxembourg Stock exchange. Tue, 07 May 2013 15:00:00 +0100 Our Consulting practice helps you review, improve and monitor the overall efficiency of your company, from the inception of a strategy to its successful implementation. Mon, 06 May 2013 16:00:00 +0100 In a context marked by in-depth legal and regulatory changes, the Luxembourg Stock Exchange is a world-class player offering an attractive international listing marketplace for a large range of securities. With 3,127 listed issuers coming from 103 countries, the Luxembourg Stock Exchange meets capital market player's needs as a result of a 80-year old experience, high quality products and services as well as fast, customer-oriented and secure processes. Mon, 06 May 2013 12:00:00 +0100 Whilst the IASB and FASB are still working together on a number of projects and previously published joint proposals for impairment of financial instruments, there are now two proposals on the table for consideration. Eniko Konczol from PwC’s Accounting Consulting Services looks at the proposals and the next steps. Fri, 26 Apr 2013 11:00:00 +0100 Yesterday, PwC Luxembourg held its annual "Securitisation breakfast" which brought together more than 80 market players, including corporate service providers, lawyers and other market participants. Through a series of interconnected presentations and discussions, conference speakers looked at the securitisation vehicles in the wake of the implementation of the Alternative Investment Fund Managers Directive (AIFMD),provided tax and VAT update, examined the implications of the European Market Infrastructure Regulation (EMIR) and stressed the importance of internal controls. Thu, 25 Apr 2013 11:30:00 +0100 On Thursday last week, the UK launched a legal challenge against the EU Financial Transaction Tax ("FTT"). The UK has now received support for its challenge from Luxembourg, which publicly supported the UK’s position on Monday. In this Newsflash we set out the background to this challenge, its implications for the EU FTT and what institutions affected by the EU FTT should be doing now. Wed, 24 Apr 2013 17:00:00 +0100 IRS releases draft FATCA registration forms and additional information regarding FFI lists Tue, 23 Apr 2013 17:00:00 +0100 New multilateral action to combat tax evasion Tue, 23 Apr 2013 17:00:00 +0100 This issue of the Technology Forecast examines the impact of Internet of Things trends on businesses and the IT organization. It analyzes how businesses now have the ability to continue the relationship with customers after the sales transaction by helping them achieve the goals for which they buy the products. Mon, 22 Apr 2013 16:30:00 +0100 Economic growth and Europe’s debt crisis are radically changing banking MandA according to PwC new study. Mon, 22 Apr 2013 12:00:00 +0100 PwC Luxembourg has just published the latest edition of its annual European Institutional Investor Poster. This third edition allows a quick, yet comprehensive overview of the European institutional market including the size and structure of the market, the asset allocation breakdown, the top locations and the largest investors. Thu, 18 Apr 2013 16:00:00 +0100 Lors du « Seniority Cocktail » organisé le 27 février, PwC Luxembourg a mis à l’honneur les acteurs quotidiens de son évolution durant les 30 dernières années. Thu, 18 Apr 2013 16:00:00 +0100 In his "State of the Nation" speech, Luxembourg Prime Minister Jean-Claude Juncker announced that the Luxembourg VAT standard rate of 15% will increase in 2015. New VAT rate will still be the lowest in the EU. Thu, 18 Apr 2013 10:00:00 +0100 The continued economic downturn in the past two years has led to job cuts and some freeze on hiring. Companies have responded by cutting staff through redundancy plans. Redundancy can cause people a lot of distress and personal worry. Wed, 17 Apr 2013 10:00:00 +0100 The total number and value of global banking MandA transactions has declined steadily over the past few years. If 2007 represented the end of the bull market for banking MandA, then 2008 and 2009 were defined by a wave of nationalisations and rescue transactions. Since then banking deals have cooled, although MandA has remained a vital tool for adaptation, retrenchment and reform. Tue, 16 Apr 2013 17:00:00 +0100 The recent period of extreme market volatility and illiquidity has highlighted the continued importance of having reliable valuations processes. In that context, AIFMD is imposing a set of new requirements that the Asset Management industry will have to cope with. Tue, 16 Apr 2013 15:30:00 +0100 Human Resources are facing complex systems, fast evolving environments, difficulties in managing the recruitment process and demographic changes. The Job Grading process provides you with a basis for decisionmaking and a structure in different HR areas, including compensation management, personnel development, mobility and career as well as succession planning. Mon, 15 Apr 2013 14:00:00 +0100 Welcome to the fifth issue of our Real Estate Sustainability Newsletter. In this issue, you will get our updated inventory of the certified buildings in Grand Duchy of Luxembourg at 30 January 2013. This inventory presents the main market trends in certified buildings. As information is crucial to make the right investing decisions, we have recommended some websites that could be of interest for public and private organisations. Then, you will find the second part of the article about our experience on Life Cycle Costs, the first part of this article is available in the previous issue of our Newsletter. We have also selected a couple of articles related to sustainability, specially an estimation of the economic value of the biodiversity. We cover as well our participation in events such as the Global Reporting Initiative Certified training, and much more. Mon, 15 Apr 2013 09:30:00 +0100 On 19 December 2012 the European Commission finally published its adopted Delegated Regulation (Level 2) for the Alternative Investment Fund Managers Directive (AIFMD). Fri, 12 Apr 2013 17:00:00 +0100