http://www.pwc.com/lu PricewaterhouseCoopers Luxembourg: Latest publications, news, press items and more from our industry experts en-en 2006-2009 PricewaterhouseCoopers S.à.r.l. http://www.pwc.com/images/topnav/pwc.gif http://www.pwc.com/lu http://www.pwc.com/lu/eng/ins-sol/publ/pwc-tax-030709.pdf Luxembourg Parliament just passed new legislation to promote research and innovation in order to encourage businesses to develop their innovation potential. The new legislation is effective 1 July 2009. http://www.pwc.com/lu/eng/ins-sol/publ/pwc-tax-030709.pdf Fri, 03 Jul 2009 16:00:00 GMT http://www.pwc.com/lu/eng/ins-sol/publ/pwc-tax-030709-de.pdf Luxemburg stattet sich mit neuen Rahmenvorschriften für die Unterstützung der Forschung und Innovation aus, um die Unternehmen zur Entwicklung ihres Innovationspotentials zu motivieren. Das entsprechende Gesetz tritt am 1. Juli 2009 in Kraft. http://www.pwc.com/lu/eng/ins-sol/publ/pwc-tax-030709-de.pdf Fri, 03 Jul 2009 16:00:00 GMT http://www.pwc.com/lu/eng/ins-sol/publ/pwc-tax-030709-fr.pdf Le Luxembourg se dote d’un nouveau cadre pour le soutien de la recherche et l’innovation pour inciter les entreprises à développer leur potentiel d’innovation. Il entre en vigueur ce 1er juillet. http://www.pwc.com/lu/eng/ins-sol/publ/pwc-tax-030709-fr.pdf Fri, 03 Jul 2009 16:00:00 GMT http://www.pwc.com/lu/eng/ins-sol/publ/pwc-tax-standard-chart-of-accounts.pdf The law dated December 19, 2002 (“the Accounting law”) prescribed the use of a detailed chart of accounts, and updated the “Code de Commerce” accordingly, although the publication of this chart of accounts was left for a future Grand-Ducal Regulation (“GDR”). The release of the long awaited chart of accounts is a major step in the on-going modernisation of the financial reporting and of the accounting rules in Luxembourg which began in 2002. In the near future, it should result in the creation of a “Centrale des Bilans” in Luxembourg. In addition, the Luxembourg authorities have decided to use the “Plan Comptable Normalisé” or “PCN” as a working tool as part of their policy to reduce administrative burdens faced by Luxembourg companies. http://www.pwc.com/lu/eng/ins-sol/publ/pwc-tax-standard-chart-of-accounts.pdf Tue, 30 Jun 2009 09:00:00 GMT http://www.pwc.com/lu/eng/ins-sol/publ/pwc-tax-standard-chart-of-accounts-fr.pdf La loi du 19 décembre 2002 (“la Loi comptable”) avait prescrit l’usage d’un plan comptable normalisé, et mis à jour le “Code de Commerce” de manière correspondante, la publication de ce plan comptable étant cependant laissée à un futur Règlement Grand-Ducal (“RGD”). La publication de ce document, attendu de longue date, représente une étape majeure dans la modernisation du droit comptable luxembourgeois, initiée en 2002, et qui devrait conduire dans un proche avenir à la naissance d’une Centrale des Bilans au Luxembourg. De plus, les autorités luxembourgeoises ont decidé de faire du “Plan Comptable Normalisé” ou “PCN” un des outils de la politique de réduction des charges administratives des entreprises. http://www.pwc.com/lu/eng/ins-sol/publ/pwc-tax-standard-chart-of-accounts-fr.pdf Tue, 30 Jun 2009 09:00:00 GMT http://www.pwc.com/lu/eng/ins-sol/publ/pwc-tax-standard-chart-of-accounts-de.pdf Das Gesetz vom 19. Dezember 2002 («Das Gesetz über die Rechnungslegung») sowie das Handelsgesetz („Code de Commerce”) schreiben die Verwendung eines detaillierten Kontenplans vor, der durch eine zukünftige Großherzogliche Verordnung zu definieren war. Die Umsetzung dieses lang erwarteten Kontenplans stellt einen entscheidenden Schritt in der 2002 begonnenen fortlaufenden Modernisierung der Finanzberichterstattung und des Rechnungslegungsrechts dar und wird in naher Zukunft zur Einrichtung eines zentralen Bilanzregisters („Centrale des Bilans“) in Luxemburg führen. Im Rahmen der Zielsetzung, die Verwaltungslast der Unternehmen zu reduzieren, haben die luxemburgischen Behörden darüber hinaus beschlossen, den Standard- Kontenplan als Arbeitswerkzeug einzusetzen. http://www.pwc.com/lu/eng/ins-sol/publ/pwc-tax-standard-chart-of-accounts-de.pdf Tue, 30 Jun 2009 09:00:00 GMT http://www.pwc.com/lu/eng/ins-sol/publ/pwc-tax-260609.pdf Investment funds can claim millions back in overpaid dividend withholding tax from governments across Europe, following a European Court of Justice (ECJ) ruling that a Finnish tax withheld on dividends paid to foreign investment funds is considered illegal. The ruling in the case of Aberdeen Property Fininvest Alpha Oy is one of the first cases in the European Courts to consider the legality of an EU member state levying dividend withholding taxes only on dividends paid to non-resident investment funds while exempting domestic investment funds from such taxes. http://www.pwc.com/lu/eng/ins-sol/publ/pwc-tax-260609.pdf Mon, 29 Jun 2009 11:00:00 GMT http://www.pwc.com/extweb/challenges.nsf/docid/084131F9CC28D4A18025753E003D7CD5 PwC has just published the latest edition of its Global Fund Distribution Poster. As in previous years, this 9th edition of the poster contains essential information on the evolution of the distribution of UCITS funds across the globe. The Global Fund Distribution Poster 2009, published in English, allows a quick, yet comprehensive overview on fund distribution in 2008 including fund distribution “hot spots”, target markets for distribution, leading distribution markets and, of course, key distribution trends as well as a list of the top 50 cross border management groups. http://www.pwc.com/extweb/challenges.nsf/docid/084131F9CC28D4A18025753E003D7CD5 Mon, 22 Jun 2009 18:00:00 GMT http://www.pwc.com/lu/eng/ins-sol/publ/pwc-publ-ideal-fund.pdf This paper takes an investor-centric approach to examine the mutual fund value proposition and outlines recommendations for governments and the industry to promote sustainable solutions that will serve investors. The focus is on the long-term investment goals of European retail investors. http://www.pwc.com/lu/eng/ins-sol/publ/pwc-publ-ideal-fund.pdf Mon, 22 Jun 2009 18:00:00 GMT http://www.pwc.com/lu/eng/ins-sol/publ/pwc-ifrs-june2009.pdf The Board issued its long-awaited exposure draft, ‘Fair value measurement’, last month. The ED does not expand the use of fair value or say when to use fair value. It provides a single source of ‘how to’ guidance for measuring fair value where an IFRS requires or permits its use*. Robert Marsh in Global ACS in the US and Alberto Vieyra in the Global ACS Central Team look at the proposals. http://www.pwc.com/lu/eng/ins-sol/publ/pwc-ifrs-june2009.pdf Mon, 15 Jun 2009 16:00:00 GMT