Luxembourg fund tax income flat as Raif proceeds surge
Proceeds from Luxembourg registration tax for investment funds remained flat at 1.3 billion euro last year as a small decline at Ucits funds was offset by a steep increase in proceeds from reserved alternative investment funds, or Raifs. The development reflects the growing importance of alternative investment for Luxembourg, although this market remains .
Due diligence directive: EU on course to exempt funds
Ministers of the 27 EU member states have backed a proposal that makes it possible for countries to exempt banks and investment funds from planned EU rules that will require companies to report their impact on human rights and the environment.