Structuring investment funds
The ATAD 1,2,3 saga: The main points to remember from 2022
The international tax environment has constantly evolved this last decade under the impetus of the OECD and European Commission. One of the main results of these evolutions are the European union anti-abuse mechanisms known as Anti-Tax Avoidance Directives (ATAD).
Indeed, ATAD 1 appears in 2016 with 5 anti-abuse rules to transpose. It was quickly followed by ATAD 2 in 2017 and now ATAD 3 is coming. The ATAD 3 project is to establish specific anti-abuse rules against entities established in the European Union known as "front companies" or "empty shells", ie companies with little substance. Luxembourg holding companies are likely to be directly impacted by this proposed directive.
In the face of this ongoing legislative saga, this fiscal event wishes to give a detailed overview of the effective law and what is coming.
For an enriching and interactive exchange, we offer a cross-views format with our experts. Indeed, our experts will provide a presentation of the various ATAD directives then an exchange of questions / answers.
We are looking forward to meeting you at the conference and we warmly encourage you to choose the “on site” option to make the most of the interactive experience with our experts.
- Overview on the various combatting tax avoidance in the European Union : ATAD 1, ATAD2 and ATAD 3
- Identify the new rules and regulations regarding TAX Avoidance (draft directive ATAD 3)
- Tax managers
- International tax managers
- Tax experts
- Heads of private equity & real estate operations
- Fund leaders
- Private equity officers
- Project Managers
- Heads of Relationship Management private equity
- Business development Managers private equity
- Heads of entity real estate
- Business developers
- Private equity industry Leaders
- Accountant officers
- Account managers
- Fund Administrators
- Fund Managers
- Legal and fiscal managers
- Investment and profit-sharing managers
- Back office managers
- Management accountants: mutual fund deposit control, internal control, risk management and control
- Depository banks and central administrations
- Compliance Officers
- Asset Managers
- Accountants
- Marketing managers
- Company auditors
- Lawyers and consultants
TUESDAY 4 OCTOBER 2022
Chairman:
Guilhem BECVORT
Counsel
ALLEN & OVERY
8.45 am Welcome of participants
Opening speech by session president
(Cross views) ATAD 2 - Where do we stand for Luxembourg investment funds and their investment platform?
- How ATAD 2 is managed in practice by investment fund managers since its implementation?
- Insight on technical aspects in the fund structuring
- Overview of difficulties encountered in the fund structuring
Alexandra CLOUTE
Senior Associate
ARENDT & MEDERNACH
(Cross views) Anti-Tax Avoidance Directive 3 : A practical conversation on the “unshell directive”
- What does this proposed directive on substances in the EU contain?
- Where do we stand in terms of the development of the proposed directive?
- What are the expected consequences for the financial industry in Luxembourg? What are the consequences for investment fund structures?
- The crystal ball discussion: what would the post-ATAD3 world be like if the directive were to be implemented?
Lorenzo DEBAY
Tax manager
BNP Paribas Real Estate Investment Management
&
Guilhèm BECVORT
Counsel
Allen & Overy
Coffee-networking
(Cross views) Impact of ATAD 1 in a fund structuring exercise
- How the interest limitation rule can impact a fund platform, in particular for underlying holding vehicles or taxable feeders
- What are the potential solutions to mitigate the impact?
- What are the practical constraints around these solutions?
- General discussion around the other ATAD 1 provisions (in particular the new general anti abuse rule and CFC rules)
Geoffrey SCARDONI
Partner - Lawyer
Clifford Chance
&
Rolf CASPERS
Global Head of Capital Markets
SANNE
Questions/answers
End of session
