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With only three weeks remaining for companies, individuals and industry groups to make submissions to the US regulatory authorities on amendments to FATCA, this was one breakfast likely to be attended by a number of Luxembourg key players. CEOs, Partners and Heads of Tax from Banks, Transfer Agencies, Corporate services and Trust Firms all keenly followed presentations by Marnin Michaels, a Tax Partner from the Switzerland office and Sandrine LeClerq, recently appointed as Head of Business development for the Baker and McKenzie Luxembourg office.
Michaels commenced proceedings with a reminder that the United States offers a self-regulated tax environment with only 1% of all individuals likely to be checked on an audit basis. He surmised that most...
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