NEWS

TransFair Pricing Solutions (“TFPS”) has been nominated for the European Tax Awards 2019 in the category “Luxembourg Transfer Pricing Firm of the Year” by International Tax Review, one of the most prestigious tax law rankings. 

The European Tax Awards take place annually and recognise the leading tax and transfer pricing professionals around Europe. The firms are judged on key criteria such as innovation, complexity, and size of their transactions.

The gala and the announcement of the final results will take place in London on 16^th May.

All details about the event including all nominations are available at this link https://www.internationaltaxreview.com/Article/3866261/Corporate-Tax-Archive/ITR-EMEA-Tax-Awards-2019-shortlist-announced.html

On 18 January 2019, the Luxembourg VAT Authorities published a new circular (n°790), which provides further clarification for the determination of VAT taxable basis for intra-group transactions. The circular covers the following points:

• Transactions for which the addresses do not have a right to full deduction of the tax and whose invoiced or agreed remuneration is lower than the normal value.
• Transactions carried out in the context of an activity that is only partially deductible and whose tax base is used to establish the amount of the tax deductible.
• Transactions exempted under Article 44 and not entitled to a deduction of the tax, the invoiced or agreed remuneration of which is lower than the normal value (arm’s length price).
• Transactions giving rise to the right to deduct tax, the invoiced or agreed remuneration of which is greater than the normal value (arm’s length price).