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By Jean KIZITO, Partner, KPMG Luxembourg
As European regulators advance a wide-ranging set of tax transparency reforms, banks and asset managers across the continent are preparing for what many industry observers describe as the most far-reaching operational shake-up in more than a decade. With the year drawing to a close, institutions are accelerating efforts to strengthen governance frameworks and modernize tax operations ahead of the arrival of the EU’s FASTER Directive(1), Germany’s MiKaDiv(2) regime and the bloc’s latest expansion of its administrative cooperation rules under DAC8(3).
FASTER and MiKaDiv regimes
The FASTER Directive, scheduled to...
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