STEP Benelux has announced details of an Evening Seminar being held on Thursday 26 November 2015 at 17:30 at Cercle Munster (5-7 rue Munster, L-2160 Luxembourg-Grund).
The presentation on “Banking Secrecy: Where Are We Now? Luxembourg’s Financial Industry in the Age of Transparency" will be presented by presented by Alain Hondequin (ABBL), Jean Schaffner (Allen & Overy) and Alain Steichen (Bonn Steichen & Partners).
The presentation will cover the following topics:
- The Common Reporting Standard (CRS) for automatic exchange of tax information will take effect on 1st January 2016: this represents a “paradigm shift” for Luxembourg, a traditional “banking secrecy” jurisdiction
- Are there competitive advantages in being an “early adopter” while the main competitors in the private banking industry (Switzerland, Monaco, Singapore) are adopting the CRS one year later?
- Should banking secrecy be maintained for Luxembourg residents?
- A public register of beneficial owners is required under the 4th EU AML Directive: possibly a step too far?
- A major wave of changes can be expected out of BEPS: the repeal of the IP regime is one example. Is the traditional “Soparfi” heading for the history books?
- Will the newly enacted procedure offer an adequate guarantee to taxpayers seeking the Revenue authorities’ control in the form of a ruling?
- 17:30: Doors open - registration, drinks, etc.
- 18:00: Welcome address by STEP Benelux Chairman Luca Tomasi TEP.
- 18:15: Panel discussion moderated by Paolo Panico TEP of Private Trustees, during which the three keynote speakers will develop the main topics.
- 19:15: End of panel discussion, followed by question and answer session, drinks, canapés with an opportunity to continue discussions with the speakers and network with friends and colleagues.
WHO SHOULD ATTEND?
Everyone involved in wealth planning and preservation, including, but not limited to, all estate and trust professionals, lawyers, accountants, trust officers, current STEP members, applicants and other providers of ancillary services.