TY  - BOOK
AU  - Schmitz,Marc
AU  - Warner,Philip J.
TI  - Luxembourg in International Tax
SN  - 9789087223359
AV  - KKK354 .W376 2015
U1  - 343.4067 
PY  - 2015///
CY  - Amsterdam
PB  - IBFD Publications USA, Incorporated
KW  - Business enterprises, Foreign-Taxation-Law and legislation-Luxembourg
KW  - Electronic books
N1  - Intro -- Title Page -- Copyright Page -- Table of Contents -- Acknowledgements -- Foreword -- Chapter 1 - An Introduction to Luxembourg and Essential Legal and Accounting Knowledge -- 1.1. An introduction to Luxembourg -- 1.1.1. General information -- 1.1.1.1. Geography -- 1.1.1.2. People and languages -- 1.1.1.3. History -- 1.1.1.4. Political and legal factors -- 1.1.2. Financial and economic information -- 1.1.2.1. Currency and the movement of funds -- 1.1.2.2. Major industries -- 1.1.2.3. Luxembourg as a financial centre -- 1.1.2.4. The Luxembourg Stock Exchange -- 1.2. Essential company law knowledge -- 1.2.1. The different forms of company -- 1.2.2. Incorporation of an SA or an Sàrl -- 1.2.3. Share capital at the time of incorporation -- 1.2.4. Issued shares -- 1.2.4.1. Registered or bearer shares -- 1.2.4.2. Voting rights attached to the shares -- 1.2.4.3. Authorized share capital -- 1.2.4.4. Transfers of shares -- 1.2.4.5. Share buy-backs (purchase of own shares) -- 1.2.4.6. Share capital reduction -- 1.2.5. The duties and responsibilities of directors and managers -- 1.2.6. Shareholders' meetings -- 1.2.6.1. Number of shareholders -- 1.2.6.2. Shareholders' meetings -- 1.2.6.3. Notification -- 1.2.6.4. Quorum -- 1.2.7. Audit requirements -- 1.2.8. Interim dividends -- 1.2.9. Transfer of the registered office -- 1.2.9.1. Transfer of registered office to Luxembourg -- 1.2.9.2. Transfer of registered office out of Luxembourg -- 1.2.10. Winding up and liquidation -- 1.2.10.1. Standard liquidation -- 1.2.10.2. Simplified liquidation -- 1.2.11. Mergers and demergers -- 1.2.11.1. Merger by absorption -- 1.2.11.1.1. The merger plan -- 1.2.11.1.2. Written management report -- 2.11.1.3. The auditor's report -- 2.11.1.4. The merger and its effective date -- 1.2.11.2. Merger by incorporation -- 1.2.11.3. Demerger -- 1.3. Essential accounting knowledge; 1.3.1. Fundamental accounting law and disclosure -- 1.3.2. Asset revaluation -- 1.3.3. Equity accounting -- 1.3.4. Depreciation -- 1.3.5. Intangibles -- 1.3.6. Other areas of interest -- 1.3.7. Other accounting valuation matters -- 1.3.8. Consolidated accounts -- 1.4. Luxembourg direct tax law and procedures -- 1.4.1. A brief history of Luxembourg direct tax law -- 1.4.2. Luxembourg tax law and international tax law or agreements -- 1.4.3. Abuse of law legislation -- 1.4.4. Business purpose and economic substance -- 1.4.5. Corporate tax assessment and dispute procedures -- Chapter 2 - Resident Businesses and Branches of Non-Resident Businesses -- 2.1. The presence considered to generate taxable commercial income -- 2.1.1. Fundamentals -- 2.1.2. Income held to be "commercial profits" -- 2.1.3. The definition of a PE -- 2.2. Profits-based taxes -- 2.2.1. Background -- 2.2.2. The calculation of commercial income -- 2.2.3. Calculation of the net assets invested in a business -- 2.2.4. Assets to be included in the balance sheet -- 2.2.4.1. Assets (liabilities) deemed to be part of the business by their nature -- 2.2.4.2. Assets (liabilities) being part of the business by option -- 2.2.4.3. Assets (liabilities) excluded from the business by their nature -- 2.2.4.4. Economic ownership -- 2.2.4.5. The treatment of finance leases -- 2.2.4.5.1 The basic principle -- 2.2.4.5.2. "Financial" leasing -- 2.2.4.5.3. Other situations -- 2.2.4.6. Leasing of real estate -- 2.2.5. Accounting considerations -- 2.2.5.1. The relationship between the commercial balance sheet and the tax computation -- 2.2.5.2. Altering an already filed balance sheet for tax purposes -- 2.2.5.3. The concept of "adequate and orderly accounting records" and how far accounts can be adjusted to reduce tax liabilities -- 2.2.5.3.1. What is meant by "adequate and orderly accounting records"; 2.2.5.3.2. The taxation effect of not having "adequate and orderly accounting records" -- 2.2.6. The valuation rules -- 2.2.6.1. The classification of assets -- 2.2.6.2. The fundamental principles of valuation -- 2.2.6.2.1. Valuation based on the circumstances at the period end -- 2.2.6.2.2. Exchange of securities -- 2.2.6.3. The fundamental valuation rule -- 2.2.6.4. Applying the valuation rules -- 2.2.6.4.1. Valuing debtors -- 2.2.6.4.2. Valuing stock -- 2.2.6.4.3. Valuing substantial shareholdings -- 2.2.6.4.4. The introduction of the EUR and the valuation rules -- 2.2.6.5. The valuation of assets which should be depreciated -- 2.2.6.5.1. Determining the expected useful life -- 2.2.6.5.2. Splitting the price paid for land and buildings -- 2.2.6.5.3. The capitalization (or not) of small-value assets -- 2.2.6.5.4. The point in time from which an asset may be depreciated -- 2.2.6.5.5. Unexpected loss of value -- 2.2.6.5.6. Extra depreciation to encourage certain activities -- 2.2.6.5.7. Reducing-balance depreciation -- 2.2.7. The deductibility of provisions -- 2.2.7.1. Provisions for future repairs and similar costs -- 2.2.7.2. Warranty and guarantee provisions -- 2.2.7.3. Internal provisions for pensions -- 2.2.8. Tax balance sheets and functional currency for tax purposes -- 2.2.9. The deductibility of expenses and exempt income -- 2.2.9.1. The general rule of deductibility of expenses -- 2.2.9.2. Examples of items which are tax deductible in Luxembourg -- 2.2.9.3. Non-deductible items in Luxembourg -- 2.2.9.4. Expenses that are specifically non-deductible -- 2.2.9.5. Expenses that are specifically tax deductible -- 2.2.9.6. Tax deductions for the provision of pensions -- 2.2.9.7. Items that are exempt or non-deductible following a tax treaty -- 2.2.9.8. Other exempt income -- 2.2.10. Debt waivers and carry-forward of losses; 2.2.10.1. The basic rules -- 2.2.10.2. Loss carry-forward and the effect of debt waiver -- 2.2.11. Capital gains and rollover relief -- 2.2.11.1. The fundamentals -- 2.2.11.2. Using the rollover provisions -- 2.2.12. Tax credits and incentives -- 2.2.12.1. Tax credit for investment -- 2.2.12.2. Tax credit for hiring the unemployed -- 2.2.12.3. Tax credit for continuing professional training -- 2.2.12.4. Assistance for new enterprises and new manufacturing projects -- 2.3. Corporate income tax -- 2.3.1. Entities subject to corporate income tax -- 2.3.1.1. Residents -- 2.3.1.2. Non-residents -- 2.3.1.3. Entities exempt from corporate income tax -- 2.3.2. The calculation of profits subject to corporate income tax -- 2.3.2.1. The application of the rules that apply to individuals -- 2.3.2.2. The effect of profit distributions -- 2.3.2.3. Hidden profit distributions -- 2.3.2.4. Hidden or disguised introductions of capital -- 2.3.2.5. Transactions involving the use of an asset at an undervaluation -- 2.3.2.6. Thin capitalization -- 2.3.2.7. Deductible and non-deductible expenses and tax-free income of companies -- 2.3.2.8. Classification of instruments as debt or equity -- 2.3.2.9. Consolidated tax returns -- 2.3.3. Calculating the tax due -- 2.3.3.1. The relationship between the accounting period and the rate of taxation -- 2.3.3.2. Final adjustments in calculating taxable profits for corporate income tax -- 2.3.3.3. The rate of corporate income tax -- 2.3.3.4. Minimum corporate income tax -- 2.3.3.5. The effect of tax treaties on the rate of corporate income tax -- 2.4. Municipal business tax and its interaction with corporate income tax -- 2.4.1. Background -- 2.4.2. Entities not subject to municipal business tax -- 2.4.3. The calculation of the profits subject to tax -- 2.4.4. The calculation of the tax due; 2.4.5. The effective rate of tax on profits -- 2.4.6. Example of the calculation of the profits taxes -- 2.5. Chamber of Commerce contribution -- 2.6. Net worth tax -- 2.6.1. Background -- 2.6.2. Entities liable to net worth tax -- 2.6.3. The tax rate -- 2.6.4. The tax base - The unitary value -- 2.6.4.1. The general valuation rule -- 2.6.4.2. Setting the unitary value -- 2.6.4.3. The importance of unitary value assessments -- 2.6.4.4. The unitary value of real estate -- 2.6.4.5. The unitary value of businesses -- 2.6.4.5.1. Real estate valuation -- 2.6.4.5.2. The use of the market value of fixed assets other than real estate -- 2.6.4.5.3. The exemption of certain large shareholdings -- 2.6.4.5.4. The non-deductibility of certain debts and liabilities -- 2.6.4.5.5. The market value of securities -- 2.6.4.5.6. Valuation adjustments for businesses with non-calendar year-ends -- 2.6.4.5.7. Branches -- 2.6.4.6. Items exempt under a tax treaty -- 2.6.5. Basic planning points concerning the unitary value -- 2.6.5.1. Distribution of profits that will not cause a tax liability in the hands of the recipient shareholder -- 2.6.5.2. Payment of interim dividends -- 2.6.5.3. Liquidation before 1 January -- 2.6.5.4. Repatriation of branch profits during the year -- 2.6.5.5. Investment in exempt or favourably valued assets -- 2.6.6. Minimum net worth tax and payment of tax -- 2.6.7. Net worth tax reduction -- 2.6.8. A basic example of the calculation of the net worth tax -- 2.7. Registration duties -- 2.7.1. Background -- 2.7.1.1. Definition of registration -- 2.7.1.2. Acts requiring registration -- 2.7.2. Different types of registration duty -- 2.7.2.1. The fixed registration duty -- 2.7.2.2. Proportional registration duties -- 2.7.3. Penalties -- 2.7.3.1. Valuation insufficiency -- 2.7.3.2. Sham ("misrepresentation"); 2.7.4. Registration duties and company documents
N2  - The book provides an excellent comprehensive analysis of the different forms of corporate taxation in Luxembourg
UR  - https://ebookcentral.proquest.com/lib/orpp/detail.action?docID=6176421
ER  -