|
By Fabio Mandorino, Adviser – Economics, Commercial Private Banking, ABBL
From the beginning, 2013 has been, for the Luxembourg financial centre, a year dominated by sustained activity around the fiscal and regulatory framework (AIFMD, EMIR, FATCA, MiFID I and II).
The peak was reached in the first half of the year, in April, with the Prime Minister’s declaration that from 1 January 2015 Luxembourg will introduce provisions for the automatic exchange of information within the European Union (within the scope of the 2003 EU Savings Directive, limited to interest income). Shortly thereafter, in May, the Ministry of Finance announced the ratification of the Intergovernmental Agreement (IGA) Model I to allow for an automatic exchange of...
|