The TP Directive’s stated goal is to increase tax certainty, reduce compliance costs, and mitigate the risk of double-taxation and litigation for cross-border intra-group transactions within the EU. The TP Directive would...more
On 7 December 2022, the European Commission (the Commission) published a proposal including amendments to EMIR (EMIR 3). The Commission identified various concerns, including around “excessive reliance of EU financial...more
In applying the UK’s transfer pricing rules, tax advisers have to think beyond the amount of the debt and the interest rate to get comfortable that an intra-group loan is going to be tax deductible. Following a recent case,...more
Most company groups rely on shareholder and / or intragroup loans in order to manage the liquidity requirements within the group and easily transfer cash from one entity to another as and when needed. While discussions about...more
Intra-group transactions are the subject of close scrutiny, particularly where the financial condition of the group is in question. Directors must carefully consider whether each proposed transaction would amount to a...more
The German Federal Ministry of Finance has published a draft law for the implementation of the EU Anti-Tax Avoidance Directive (ATAD Implementation Act) on 10 December 2019. This draft includes inter alia a new section 1a...more
The Joint Committee of European Supervisory Authorities has launched a consultation on draft Implementing Technical Standards on the reporting of intra-group transactions and risk concentration for financial conglomerates...more
Germany—Major German insolvency law reforms designed to facilitate corporate group insolvencies will become effective on April 21, 2018. When the reforms come into force, they will supplement and complement the Recast...more
The Luxembourg direct administration published Circular L.I.R. n° 56/1 – 56bis/1 applicable to companies carrying out intra-group financing transactions (the Circular) on 27 December 2016. The Circular has replaced two...more
Challenges of Transferring IP Offshore - What constitutes intellectual property (“IP”) has long been a contested issue in tax practice, but generally includes intangible assets as wide-ranging as patents, copyrights,...more
On April 4, 2016, the U.S. Department of the Treasury and Internal Revenue Service (IRS) issued two sets of regulations, temporary regulations addressing “inversion” transactions and proposed regulations regarding the...more
On August 21, 2015, the European Commission published the text of the Delegated Regulation it has adopted on regulatory technical standards (RTS) on risk concentration and intra-group transactions under Article 21a(1a) of the...more
The proposed regulations may have a significant impact on certain “management fee waiver” arrangements that have become commonplace in the investment management industry....more