Tax Compliance

Tax Compliance

Attitudes to tax are changing. Organizations of all sizes are ever more exposed to new trends in tax regulation, not just locally but globally

Attitudes to tax are changing. Organizations of all sizes are ever more exposed...

Attitudes to tax are changing. Organizations of all sizes are ever more exposed to new trends in tax regulation, not just locally but globally. Automatic exchange of information is the new normal. Besides this, banking customers now expect a new level of service also in terms of withholding tax optimisation.

We have witnessed the nationalisation of commercial banks, cases of bankruptcy, and an unprecedented degree of industry consolidation on the Luxembourg financial market. At present, the Luxembourg banking industry is still facing an exceptionally challenging time — from volatile markets and increased funding costs to strategic cost cutting and heightened regulatory scrutiny. In such an environment, protecting and growing shareholder value requires that financial institutions be disciplined, customer focused and opportunistic.