Thomas Duffell
The European Private Equity and Venture Capital Association was left frustrated after the European Parliament voted for the adoption of a depository requirement for its venture capital scheme.
The European Commission has approved measures that will increase the number of companies eligible for the UK’s tax friendly Venture Capital Trust scheme.
In addition to the traditional dual-track M&A sale or IPO exit routes, more GPs are considering a refinancing option, said Clifford Chance partner Michael Dakin in an interview with PE Manager.
Luxembourg’s Minister of Finance aims to have legislation in place by the end of the year to make the popular fund domicile compliant with the AIFM Directive. The legislation will also contain financial instruments to entice more business to the country.
The level of judicial oversight and guidance accompanying the UK Bribery Act were two points of concern recently raised by the Organisation for Economic Co-operation & Development.
GPs should update risk disclosures, reconsider valuation procedures and undergo other preparations in response to ongoing eurozone concerns, say private equity lawyers.
France may have to reimburse around €4bn in tax rebates to investment funds after The European Court of Justice ruled that its current tax code broke EU law.
On Friday the European Court of Justice will rule whether France’s withholding tax regime discriminates against foreign investment. A ruling against the current tax code could lead to sizeable rebate claims from funds and portfolio investors.
Luxembourg, a popular fund domicile for GPs worldwide, has signed a double tax treaty with Germany that could introduce withholding tax on hybrid debt instruments used to help acquire German targets.
The US regulator is taking greater care to demonstrate its rulemaking has more benefit than cost as a result of some recent court challenges.