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By Luis MUÑOZ, Partner Matteo POGLIANI, Senior Associate, DLA Piper Luxembourg
At the end of July, the law on the modernisation of the fund toolbox was adopted in Luxembourg, increasing the competitiveness of the largest investment fund hub in Europe. The market has welcomed the changes and the Luxembourg government has shown the desire to maintain the attractiveness of the country in the investment fund sector.
However, no major changes in the domestic tax framework have been implemented recently to make Luxembourg a more competitive financial centre.
On the contrary, the transposition of the most recent European Union tax related Directives (e.g. the Anti-Tax Avoidance Directives 1 and 2, or the Mandatory Disclosure...
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