Comment: We need to think bigger than working mothers, or even “working fathers”, and seek flexibility for all, says Brian Ballantyne. What's the first thing that springs to your mind when someone mentions “flexible working”? Some people think of a woman, specifically a mother, or a woman who might have children, and/or a woman looking after elderly parents. A caregiver who needs time off, or part-time hours; needing to be “on call” for loved ones. Some people think of dads, paid full time while looking after their kids by the stealth of WFH (working from home, with a wifi connection) or PFW (parenting from work, fielding calls and emails from school teachers and babysitters). Parents of all genders certainly need some flexibility in their work arrangements if they are going to be able to be present for their kids. However, flexibility shouldn't just be the sole preserve of parents, courting the resentment of childless peers with this golden … [Read more...] about We all deserve flexibility–it’s not a parental perk
Luxembourg financial regulatory body the CSSF will shortly launch a payment accounts fee comparison site, it announced on Thursday. www.frais-compte-paiement.lu will go live on 1 November 2018 providing users the opportunity to view fees for the most representative services linked to a payment account. It applies only to payment service providers which are supervised by the CSSF. Furthermore, the tool can be used to see fees of service providers with at least 25 branches in Luxembourg which hold at least 2.5% of the deposits covered under the law of 18 December 2015 on the failure of credit institutions and certain investment firms. The CSSF cautions that the fees listed may vary from those offered by service providers as part of a package. … [Read more...] about CSSF launches payment account fees comparison platform
Breaking up will be less hard to do for international couples in the EU starting next year. Luxembourg and 17 other member states have signed on to a scheme to simplify the division of assets and enforcement of judgements in other EU countries when international couples split up. The procedures apply to marriages and civil partnerships involving spouses with different nationalities, and those who live or got hitched in another EU member state. Věra Jourová, the European justice commissioner, told the Euractiv news site this week that: “In case of divorce or death of a partner, the lives of 16 million international couples can become even more difficult through burdensome procedures and unclear legal situations cross-border.” According to the European Commission’s website: “New rules applying as from 29 January 2019, aim to clarify the property rights for international married couples or registered partnerships. These clear rules on divorce or … [Read more...] about Divorce: EU reform clarifies cross-border rules
As well as the grief of bereavement, remaining family members have to deal with the cold reality of inheritance. Efficient planning can minimise the heartache, maximise fairness and maximise tax efficiency. Here we look at some of the options. There is no inheritance tax in direct line to direct descendents in Luxembourg. In other words, on their death, a Luxembourg resident can pass on real estate held in this country and other assets tax-free to children, grandchildren, etc., as long as they too are resident in this country. The situation becomes tricky when descendents who live outside the grand duchy seek to benefit from these rules. International law states they should pay the inheritance tax applicable in their country of residence. Tax evasion clampdown “In days gone by it was simple,” explained Lex Thielen, senior partner at the law firm of Lex Thielen & Associés, “because people would keep their assets in Luxembourg and thanks to banking secrecy … [Read more...] about Inheritance: what share, what tax?
Anyone who has glanced at real estate adverts will know the Luxembourg market is rapidly outpricing households on moderate incomes. But less is said about the rental market. According to new figures published by the Housing Observatory (Observatoire de l’Habitat), advertised monthly rents rose annually by 3% from 2008 to 2017. The increase was slightly higher in the capital, at 3.2%, largely because it is a “main centre for jobs and services,” the report author writes. But, the capital didn’t record the highest increases. According to the report, annual rent increases in large urban communes rose between 2.5% and 3.8% per year over the same period. In 2017, the average monthly advertised rent was €20 a square metre in Luxembourg City, compared to €16-€18 a square metre in Esch-sur-Alzette, Luxembourg’s second-biggest town. It should be noted that these rates refer only to newly advertised rental apartments (excluding charges) and not … [Read more...] about Rents rising, but not as quickly as house prices