European tax updates for investment funds, from beneficial ownership to permanent establishment

Beneficial ownership remains on the radar of European tax audits, particularly since the European Court of Justice ruled on the issue in a series of high profile Danish cases. While the European Commission has endeavored to define a universal set of criteria to harmonize a beneficial ownership test across jurisdictions via its proposed "Un-Shell" Directive (ATAD3), consensus on this Directive remains elusive. As a result, many countries are moving forward on the issue, issuing administrative guidance alongside various court holdings. This has resulted in an evolving patchwork of rules that are not aligned across jurisdictions, making the matter increasingly tricky to navigate.

Meanwhile, on another European tax front, the continuing remote work environment has also put the audit spotlight in many countries on permanent establishment risk. This risk is particularly salient where fund groups have investment manager teams comprised of executives spread out across multiple countries.

Our panel of tax partners from six leading European firms will guide the discussion on these two important topics, sharing their insights and expertise, and also including a brief recap of the progress of BEPS Pillar 2 implementation across these jurisdictions. Our speakers will be delighted to make themselves available for brief individual or small group meetings with any attendees who would like additional targeted discussions about specific jurisdictions and topics.

Organizing firms:

Organizing firms

October 11, 2023 18:00 – 20:30 EDT (UTC -4:00)
Natalia Noya
+1 212 784 8700


Time Title Speaker
17:45 – 18:00 Registration
18:00 – 19:30 Conference
19:30 Cocktail reception