Technical Committee’s Update 2013 – 01

Categories: Technical Updates


Law of 21 December 2012 on Family Offices (published in the Mémorial on 28 December 2012)

Budget Law 2013 bringing about increases in personal as well as corporate income tax, notably minimum tax (published in the Mémorial on 28 December 2012 effective 1st January 2013)

CSSF Règlement 12-02 of 14 December 2012 introducing new anti money laundering measures and repealing previous circulars (published in the Mémorial on 9 January 2013)




Austria – Liechtenstein “Abgeltungsteuerabkommen”: amendment to the Double Tax Treaty (signed 29 January 2013, effective 1st January 2014): reinforced exchange of information, “Rubik”-like taxation of past and current income



Fiduciary Service Providers Law 2012: regulation of trust and corporate service providers

Amendment to the Assessment and Collection of Tax Law 1978 (Amending Law 2012): collection of information for the purpose of exchanging it with the tax administration of other EU member states or treaty countries



Foundations (Guernsey) Law 2012 (effective 8 January 2013): another international financial centre qualifies as a “private foundation jurisdiction”: will Luxembourg ever follow suit?



Swiss – UK and Swiss – Austria “Rubik” bilateral tax agreement in force effective 1st January (a first payment of CHF 500 mln already made to HMRC by the Swiss Federal Tax Administration)

Loi sur l’Assistance Administrative Fiscale (effective 1st February 2013 after the expiry of a referendum term): “group requests” admitted if requiring authority describes action taken by bank clients to avoid taxation for issues that concern a period of time after the law has come into force (allegedly distinguished from “fishing expeditions”)



FATCA regulations issued by US Treasury on 17 January 2013 (including inter alia clarifications and open issues relating to grantor and no-grantor trusts)



Disclaimer: The STEP Benelux Technical Committee’s Update mentions and highlights some recent statutory, regulatory and judiciary developments that may be of some relevance or interest for the STEP members and their clients. It does not purport to express STEP’s opinion on any of the facts and events referred in it. Any action based on the news, facts and developments referred to in this Technical Committee’s Update should be taken after an accurate analysis of the relevant information and on the grounds of appropriate professional advice.

Author: STEP BeNeLux