1. What are the key tax laws and regulations in Luxembourg that individuals and businesses should be familiar with?
The key tax rules to be aware of are, to a large extent, contained in the Income Tax Law, the Value Added Tax Law and the Net Wealth Tax Law. Procedural elements are included in the General Income Tax Law. Additionally, the tax authorities regularly issue circular letters providing guidance on specific tax matters.
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About VdA’s tax team
VdA’s tax practice has unique analytical abilities and is best known for structuring efficient innovative structures within a highly scrutinised and regulated environment, in every market where our clients operate. We are pragmatic and agile, working in cross-practice tailor-made teams that focus on the relevant demands of each matter and jurisdiction.
Our team steadily increased its involvement in the most relevant transactions taking place in the Portuguese-speaking markets or involving several jurisdictions, as well as in key cross-border transactions within the scope of VdA Legal Partners, comprising a wide range of sectors, particularly energy, financial sector (including banking, insurance, and asset management), real estate, infrastructure, healthcare, life sciences and information and communications technology.
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Lee & Ko’s tax practice group is comprised of over 100 of Korea’s most renowned tax professionals, including former Supreme Court tax research judges, seasoned Korean and foreign attorneys with a wide range of transactional and litigation tax experience, as well as tax-focused certified public accountants (CPAs), many with extensive experience at top-tier law firms and ‘Big Four’ global accounting firms.
We are supported by senior advisers, including former government ministers, such as a former official from the Ministry of Economy and Finance in charge of drafting international tax law, a former commissioner of the National Tax Service as well as other high-ranking officers from the National Tax Service, Korea Customs Service and other governmental agencies. Our senior advisers have vast experience with regulatory tax issues, tax rulings and working with the government to draft and revise tax legislation and regulations. We are ranked a Tier 1 tax practice by The Legal 500 as well as many other reputable international ranking organisations.
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Zarhi Hernández Amar welcomed 2023 by celebrating its fifth anniversary with profound changes to meet the upcoming challenges posed by the current issues that our clients need to solve with our assistance. Thus, Carolina Hernández has now joined the firm as a partner. She has been a part of the team since the start, leading corporate and real estate matters, and implementing tax solutions tailored for our clients. Her incorporation as a partner prompted the firm to change its name to Zarhi Hernández Amar, in recognition of the relevance of the event and the strength that the partners collectively exert to lead the entire team to achieve our goals, doing what we do best: solving our clients’ legal and tax issues.
Zarhi Hernández Amar is a law firm founded by lawyers with over 15 years of individual experience, specialised in providing legal and tax advice to families, individuals and companies. We provide concrete and swift solutions to issues based on multi-angle analysis, assisting our clients in making high-complexity strategic decisions. Clients enjoy preferential legal management, specially crafted to support their daily operations and business.
Our service perspective builds long-term, intimate trust relationships, with personalised treatment and permanent availability to resolve each request promptly.
Our hallmark is a unique and creative approach to tax law. We think differently and see solutions where others only see problems, thanks to the experience, specialisation and capability of our partners and associates.
Rodrigo Zarhi Hernández
Partner; lawyer – Universidad de Chile; postgraduate diploma in tax modernisation and master in tax law from the same university
His practice focuses on tax planning and advice to Chilean and foreign high-net-worth individuals, inheritance planning and tax structures for various industries with national and international operations. He has over 20 years of experience providing comprehensive tax advice in complex and wide-ranging matters, including advanced litigation strategies in various jurisdictions and consultancy to corporate governments, mergers and acquisitions, and strategic business advice. He is currently attending the senior management programme (PADE) at the ESE Business School of the Universidad de los Andes. Member of the IFA (International Fiscal Association).
Carolina Hernández Contreras
Partner; lawyer – Pontificia Universidad Católica de Chile
She leads the corporate team of Zarhi Hernández Amar. With more than 15 years of experience in the sector, she has specialised in tax implementation, mergers and acquisitions, contracting, real estate law, purchase and sale of significant assets, compliance and corporate restructuring. She is currently pursuing a postgraduate diploma in tax planning at the faculty of economics and business of the Universidad de Chile.
Carlos Amar Grez
Partner; lawyer – Universidad Diego Portales; postgraduate diploma in tax modernisation – Universidad de Chile; postgraduate diploma in tax analysis and planning – Pontificia Universidad Católica de Chile; postgraduate degree in tax planning – Universidad del Desarrollo
His practice focuses on tax planning and advice to Chilean and foreign high-net-worth individuals, as well as in the tax legal structuring of national family offices. He has extensive experience in the reorganisation and restructuring of domestic and foreign companies, advising them in business matters of tax optimisation and compliance, foreign investment, corporate governance structures, mergers, acquisitions, and tax litigation. He has vast experience in inheritance reorganisation, enabling new generations to participate in family wealth in a structured and efficient manner. As part of his professional practice, he has participated in multiple national and international real estate transactions, advising from a differentiated perspective, seeking efficiency and compliance in tax matters. Member of the IFA (International Fiscal Association)
Please see below for a link to an online pdf of the Tax Yearbook 2023. This will only be accessible to subscribers. Please make sure you are logged into the site to see the link.
Despite the dramatic news that Kirkland had lost a London debt finance team to Paul Weiss, it has been another relatively quiet August week for lateral hiring among UK firms.
In Washington DC, Allen & Overy announced that it had appointed Scott Cockerham as a new partner in its projects, energy, natural resources, and infrastructure practice. Cockerham joined A&O from Orrick, where he spent two years as a partner, before which he was a partner for three years at Kirkland. He is in demand by clients for his advice on the tax elements of energy and infrastructure projects, including tax equity financing and tax credit transferability transactions. Continue reading “Revolving Doors: A&O grows in Washington as UK regional firms make key hires in real estate, financial services and employment”
Latham & Watkins, Macfarlanes and TLT are among the firms competing to be named Law Firm of the Year at this year’s Legal Business Awards.
Also shortlisted in the flagship category for the awards, which will take place at Grosvenor House Hotel on 19 September, are Bird & Bird, Squire Patton Boggs and Stewarts. Continue reading “Latham, Macfarlanes and TLT up for the top prize as shortlists unveiled for Legal Business Awards 2023”
Although the frenzy of financial reporting season has begun to subside, this week saw Irwin Mitchell release its financial results for 2022/2023.
The report shows that the whole group’s overall revenue has remained steady at £276m since last year, while the group’s core businesses generated 2% more revenue than this time last year, rising from £266m to £271m. Continue reading “‘Despite the considerable headwinds, we will deliver progress’: Irwin Mitchell records flat revenue in latest financials”
Antitrust enforcement is shifting, with the competition world working under in a shadow of uncertainty. 2023 has brought with it a host of geopolitical challenges including the rising cost of living, the energy crisis and political instability. Against this backdrop, antitrust authorities, armed with greater resources and an increasingly interventionist attitude, have grown increasingly confident pursuing cases that may have been overlooked in previous years. These shifts have intensified unpredictability in merger reviews and expanded the scope of behaviour subject to antitrust enforcement rules. Continue reading “Weathering the storm: navigating competition challenges in an evolving market”
Driven by the coalescing forces of greater employee willingness to raise grievances, heightened interest from regulators and the desire of employers and shareholders to maintain company reputations and safe working environments, conduct investigations into senior employees are more common than ever before. Against this backdrop, it is crucial that in-house legal teams are aware of both when and how to run an investigation process, as well as the likely ramifications. Continue reading “Under the lens: the rise of senior investigations”
Inflation has been soaring and interest rates are at their highest level in years – throw geopolitical uncertainty, an energy crisis and strike activity into the mix and it’s clear why UK businesses are facing a challenging time. Continue reading “Before sunset – City restructuring partners on what businesses need to know in tough times”
In simple terms, generative AI systems are trained by exposure to vast data sets. They build and refine models based on this data. They learn to identify patterns – and to iterate and alter those patterns to create new content.
However, potential intellectual property issues arise at both the input and output stages: with the data an AI is trained on, and with the content it produces. Continue reading “Reading or copying? Searching for AI certainty in copyright law”
Nathalie Tidman, The In-House Lawyer and Legal Business: How much access do you have to the board? How intrinsic are you to the decision-making processes of your business? Continue reading “Time for a quick Chat(GPT)?”
Lawyers adhering to a minimum of four days in the office a week policy is gaining traction among US firms, with Vinson & Elkins now joining the trend, while UK firms appear less inclined to follow suit just yet.
Vinson & Elkins announced on 9 August that it will adopt a four-day in-office schedule from 11 September, allowing the choice of remote work on either Monday or Friday, marking a change from their previous three-day hybrid policy introduced in March last year. Continue reading “‘If Zoom is doing it, everybody probably needs to be’: Growing number of US law firms mandate four-days-in-office week”
Amid the typical August recruitment slowdown, one of the most notable moves of the past week saw Allen & Overy appoint Kfir Abutbul as the head of its energy private equity team in the US. Abutbul joins the firm from Paul Hastings, where he spent nearly five years as co-chair and vice-chair of its energy and infrastructure team, before which he was also a partner at Kirkland and Willkie Farr.
Chair of A&O’s US corporate practice, Bill Schwitter, said in a statement: ‘The addition of Kfir is an opportunity to continue the expansion of our US private equity and M&A practice.’ Continue reading “Revolving Doors: Two Magic Circle firms reveal major US hires amid quieter week for City firms”
Debt finance rainmaker Neel Sachdev (pictured) has led a team defecting from Kirkland & Ellis to Paul Weiss, in what will be seen as a major coup for the Wall Street firm’s City ambitions.
The hire of Sachdev is arguably the most influential transfer in the City’s history since buyout star David Higgins left Freshfields for Kirkland in 2017. It is a serious show of intent for Paul Weiss in London, establishing as it does an English law offering for the first time. Continue reading “Kirkland’s debt superstar Sachdev leads team exit as Paul Weiss launches English law practice”
CMS has reported a 6% uptick from last year’s €1.746bn to €1.862bn in global revenue growth in its recent set of financial results this week, with UK turnover also up by 6% to £686m from FY21/22’s £644m.
Despite the continued financial growth, revenue has slowed considerably since last year, which saw an 18% spike to the global top line and a 14% increase in UK turnover. Continue reading “Financial results 22/23: CMS sees deceleration in revenue growth following last year’s standout figures”
Kingsley Napley has reported an 11% rise in revenue to £61.2m from £55.2m, an all-time high for the firm. However, profit per equity partner (PEP) fell dramatically by 33% to £226,000 from £337,000 last year.
Speaking to Legal Business about the reasons behind the fall in PEP, managing partner Linda Woolley (pictured) said: ‘We brought in eight partners during the year and promoted four to partner internally. This was quite a big investment on our behalf but a planned investment. Also, you do not just recruit a partner, you recruit other people to support them. Continue reading “Financials 2022/23: Kingsley Napley sees double-digit revenue growth but PEP tumbles”
Kirkland & Ellis was at the centre of not one but two of the biggest stories in the London lateral hiring market last week . First, the news broke that former Linklaters private equity star Roger Johnson was set to leave. Then, the firm announced its hire of Paul Weiss London managing partner Alvaro Membrillera.
Membrillera’s departure leaves Paul Weiss with only three partners in London, according to the firm’s website: David Carmona and Adam Wollstein, who made partner in December 2018 and January 2021, respectively, and David Lakhdhir, who cofounded the office in 2001 with Mark Bergman, of counsel in Washington DC since 2021. Continue reading “Revolving doors: Shake-ups at Kirkland and Paul Weiss, as Fieldfisher picks up competition team hire”
