By  BRUNO GASPAROTTO | SOPHIE WEYTEN | NICOLAS CONRAD | CLAIRE SCHMITT On 18 January 2019, the Luxembourg VAT authorities published a new Circular (N°790), which clarifies the provisions of article 28, §3, of the VAT Law on transfer pricing and VAT. In this respect, in a supply between closely related parties, for which the agreed or charged fee value is different from the normal value of the operation, the VAT base will be constituted by the normal value of the operation (fair market...

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Recruiters are so plentiful these days, it can seem like they’re a dime a dozen. Hiring managers the world over are inundated with a ceaseless stream of voicemails from recruiting firms eager to provide their services. Not all recruiters are created equal, and with so many competing firms it can be hard to discern whether you have the right staffing partners at your side. If you have found yourself questioning the relevance of your current recruiting partners, there are a...

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The misappropriation of a trade secret can come at a significant cost to its owner. In 2014, research published by PwC and the Center for Responsible Enterprise and Trade estimated the total value of misappropriated trade secrets in the US at between 1% and 3% of GDP – the equivalent of up to $550 billion per annum. If unlawful disclosures allow a third party to compete, this can affect customer retention, profits and brand reputation on a global basis. The...

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Companies undertaking M&A transactions come up against three key financial compliance challenges. In TMF Group’s work with companies undertaking merger or acquisition transactions across the globe, we see the same three financial compliance mistakes time and time again.  1. Not putting the right deal structure in place The structure of your M&A deal is an important one to get right, because it influences a myriad of factors from the type of setup you need to put in place, to the type of entities...

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By David Bassuk & Joel Bines | AlixPartners The consumer has never been more important, or opinionated, than now. Not only are there unending buying choices available, but the explosion of digitally native business models, unprecedented speed of delivery, and personalized experiences have changed the game. Meanwhile, retailers are also trying to navigate a tricky political and economic climate. Here is our annual crystal ball on the state of the industry: 1. Digital natives continue to win share from traditional retailers Brands that were born on the...

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The new year has brought changes that affect insurers writing cross-border business across the EU. Some territories have introduced new requirements, or amendments to existing obligations that necessitate the amendment of reporting procedures for insurers. Here’s a summary of some of the changes that have recently come into force, or are scheduled for 2019. Denmark – Guarantee Fund for Non-Life Insurance Undertakings Act no. 375 of 1 May 2018 amended the Danish Guarantee Fund for Non-Life Insurance Undertakings Act. All non-life insurers...

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