Allen & Overy Luxembourg s

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1 LUXEMBOURG Leading tax law firms Luxembourg Leading tax law firms Allen & Overy Luxembourg s three-partner tax team has an excellent standing in the market and benefits from strong ties with the regulatory authorities and industry groups. Patrick Mischo provides tax structuring advice on corporate and private equity transactions, and is co-chairman of the tax committee of the nascent Luxembourg Private Equity Association. The team also handles litigation and recently successfully represented the Luxembourg Indirect Tax Administration in a 5m capital duty dispute. Jean Schaffner and Jean-Luc Fisch are both good at finding commercial and practical solutions to complex issues. As befits a firm that benefits from very strong corporate and finance practices, a substantial amount of Arendt & Medernach s tax work relates to the structuring of transactions, new money financings and restructurings. The team is also integral to the firm s investment funds structuring work. Thierry Lesage and Eric Fort both have a prominent reputation in the market. Bonn Steichen & Partners provides related tax structuring advice pursuant to major corporate and finance transactions. The team is also well versed at representing clients before the national tax authorities. The truly excellent Alain Steichen has a superb reputation in the market. Tax is one of the central tenets of Loyens & Loeff s ethos and, with over 30 tax professionals within the group, it has the critical mass to handle a tremendous range and volume of mandates. Team head Jean-Pierre Winandy and Simon Paul are well regarded in the market, particularly in relation to cross-border structuring. The team is well known for structured finance, funds, M&A, VAT and tax litigation. Led by former Ernst & Young partner André Pesch, Baker & McKenzie Luxembourg s six-strong tax team is a pivotal resource within the nascent Luxembourg offering. Able to tap into the firm s huge international network, the group advises corporates, financial institutions and asset managers across a broad spectrum of matters including international tax planning, fund structuring, M&A mandates, private banking and wealth management. Headed by François-Xavier Dujardin, Clifford Chance s tax team provides clear and accurate advice to clients engaged in domestic and cross-border 222

2 Leading tax law firms LUXEMBOURG Luxembourg Leading tax law firms Allen & Overy Luxembourg 1 Arendt & Medernach Bonn Steichen & Partners l Loyens & Loeff Baker & McKenzie Luxembourg 2 Clifford Chance Elvinger, Hoss & Prussen Linklaters LLP NautaDutilh OPF Partners CMS DeBacker Luxembourg 3 M Partners Stibbe Vandenbulke Wagener & Associés Wildgen, Partners in Law Firms are listed A-Z within tiers l indicates that firms are listed in the directory section capital markets, M&A and funds work. Dujardin recently advised Altarea Cogedin on tax aspects of the establishment of a 600m real estate investment fund. Elvinger, Hoss & Prussen s Dirk Richter is the main tax contact and recently advised on the listing of Russian food retailer O Key, in what was one of the first London listings of a Russian group s Luxembourg holding company since the financial crisis. Richter also provides tax structuring expertise regarding the establishment of funds

3 LUXEMBOURG Leading tax law firms Collected total tax revenues Collected indirect tax revenues Collected corporate taxes Figures are given as a percentage of GDP Real corporate taxes do not discourage entrepreneurial activity* Corporate tax rate on profit (maximum, calculated on profit before tax) Consumption tax rate (standard rate of VAT/GST) *Based on an index from 0 to 10 (0 hampers business activity; 10 does not hamper business activity) Source: IMD World Competitiveness Online Linklaters LLP s small tax team is regularly called upon to advise on private equity and corporate transactions, as well as tax-based structured finance projects. Corporate partner Laurent Schummer is heading the group on an interim basis, following the recent departure of Paul Tulcinsky to Stibbe. Jointly headed by Christophe Joosen and Jean-Marc Groelly, NautaDutilh s tax team is regularly called upon to provide structuring advice on domestic and cross-border private equity and corporate transactions. Recent highlights include providing the tax input in relation to Apollo and CVC s 883m acquisition of Brit Insurance Holdings. Headed by managing partner Frédéric Feyten, OPF Partners tax team has a good reputation for structuring funds and private equity transactions. The team is also well regarded for its general tax compliance and VAT work and was recently strengthened in those areas by the arrival of senior associates Christine Ntumba and Charlène-Adline Herbain. At CMS DeBacker Luxembourg, team head Diogo Duarte de Oliveira has excellent international experience and provides solutions-oriented advice to corporate and private equity firms engaged in major cross-border deals. At M Partners, Herman Troskie has particular expertise on international tax planning. Stibbe now has significant tax capability following the recruitment of Paul Tulcinsky from Linklaters LLP in 224

4 Leading tax law firms LUXEMBOURG The most problematic factors for doing business Access to financing Corruption Crime and theft Foreign currency regulations Government instability/coups Inadequate supply of infrastructure Inadequately educated workforce Inefficient government bureaucracy Inflation Insufficient capacity to innovate Policy instability Poor public health Poor work ethic in national labour force Restrictive labour regulations Tax rates Tax regulations June 2011; he specialises in international tax matters. At Vandenbulke, the business-minded Denis Van den Bulke has an excellent reputation for handling international tax structuring. Wagener & Associés Jean Wagener is well regarded for cross-border tax structuring. Wildgen, Partners in Law s David Maria has a strong reputation for handling corporate tax issues. Revenue authority details Ministère des Finances 3, rue de la Congrégation 1352 Luxembourg Tel: Fax: Website:

5 LUXEMBOURG Jurisdiction contacts Bonn Steichen & Partners Address: 2 Rue Peternelchen, Immeuble C Howald, Luxembourg Tel: Fax: mail@bsp.lu Website: Head of tax practice: Alain Steichen Bonn Steichen & Partners is a full-service Luxembourg law firm committed to providing the highest quality legal services. With in excess of 60 professionals, BSP offers a wealth of knowledge and experience of all aspects of Luxembourg law. Focused on achievements, lawyers at all levels of seniority bring together their expertise around a common objective: creating value for the client. Developing long-term and trusting relationships with clients, BSP takes advantage of the fruitful synergy between departments to ensure reliability and consistency of high-standard service. Clients benefit from having access to a wide variety of resources and expertise, which are constantly adapted to new laws and regulations, situations and challenges. Besides delivering tailor-made solutions, the broad range of concrete skills enables the lawyers to be proactive and to provide answers not options. BSP advises both domestic and international clients on matters of law such as tax, corporate, capital markets, investment funds, employment, banking and finance to name a few. The firm s strong experience in a number of buoyant sectors healthcare, TMT, energy and infrastructure adds further to its reputation as a dynamic leading law firm in Luxembourg

6 Jurisdiction contacts LUXEMBOURG Consistently highly rated in legal guides and directories, Bonn Steichen & Partners tax practice has successfully been able, over time, to attract and retain talented people. Thanks to an extremely extensive and accurate knowledge of tax law-specific requirements, the dedicated team of tax lawyers and advisors offer solutions tailored specifically to the clients needs. They thus provide a comprehensive range of direct and indirect tax advice to a wide variety of international and local clients, essentially companies, but also individuals. This includes advice on the structuring and execution of transactions and strategic tax planning advice for businesses which operate internationally through Luxembourg. Many of the firm s tax professionals have specific and leading-edge proficiency in finance, private equity, transfer pricing and cross-border planning, regulated and unregulated investment funds, real estate taxation and dispute resolution, so that the advice is up-to-the-minute, clear and practical. BSP s tax department provides highly specialised advice on a wide range of matters, including transactions (disposals, acquisitions and joint ventures), tax planning (inward and outward investment, holding and financing structures and group reorganisations), tax audits and litigation, value-added tax, creation of all forms of investment vehicles, transfer pricing, and structured financial products (securitisation and tax-enhanced debt financing). The well-earned international reputation of Bonn Steichen & Partners regarding tax matters is further emphasised by the stellar 25-year track record of Alain Steichen, head of the department and by the extensive experience of Christine Beernaerts, highly specialised tax senior counsel. With the support of their seasoned team, they established BSP s legitimacy as the tax key player in Luxembourg, the one in which businesses and individuals place their trust

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