- Claude Marx, Deputy CEO, HSBC Private Bank (Luxembourg) S.A.
- Karl Horsburgh, HT Group
- Jean-Pierre Winandy, President IFA (Lux), Partner, Loyens & Loeff
- Jean Schaffner, Partner, Allen & Overy
Governments around the world need to raise more tax revenue to reduce their budget deficits caused by the economic crisis. Through the OECD, pressure has been put on all jurisdictions, and especially those that are seen as financial centers and especially with banking secrecy, to cooperate with tax authorities to provide information on identified non-residents with accounts in their jurisdiction, through revised double taxation agreements and tax information exchange agreements, in compliance with the OECD standards.
The only European countries left with "Banking Confidentiality" (as Minister Luc Frieden calls it) are Luxembourg and Austria. Belgium has already given way. To comply with the EU Savings Directive Luxembourg, Austria, Switzerland and the Channel Islands still hold onto their right to withhold tax at source rather than automatic exchange of information, but for how long? The Directive is being revised and the withholding tax will increase to 35% from July 1, 2011.
What does all this mean for you, the private individual or business?
What is and will be the attitude of the banks and the tax authorities in your country of residence?
How are banks organising themselves in the new, tax transparent environment?
We have three eminent speakers from Luxembourg speaking for 20 minutes each on the practical issues resulting from these changes and attempting to answer the above questions and more. The evening will be moderated by Karl Horsburgh of HT Group S.A.
Apéritifs sponsored by HT Group S.A. Accountants and Tax Advisers
The evening will begin at 18.00 with registration. After the speakers, there will be a Q&A session with the audience. To close the evening, a buffet dinner will be served and as always, the opportunity to meet and discuss with your fellow Chamber members (www.bcc.lu
) and STEP members (www.step.org
) and other attendees. The evening is expected to end around 22.00.
Please complete the registration form below to confirm your reservation or contact the Chamber Secretariat by e-mail: email@example.com
We would like to remind Sustaining and Business Members that all their staff are welcome at our events and would ask that you please circulate this invitation.
PLEASE NOTE THAT REGISTRATIONS MUST BE RECEIVED BY FRIDAY 10 JUNE.
The cost of this event is: Euros 50 for BCC/STEP Members; Euros 65 for Non-Members.
Please note that cancellations must be received in writing no later than noon Friday June 10. Where no written cancellation is received we regret we have to invoice for the cost of the event.