Co-headed by Jean Schaffner and Patrick Mischo, A&O Shearman provides 'highly technical and client-focused advice' across a wide range of standalone advisory, transactional-led structuring and litigation involving domestic and international clients. As well as regularly advising banking clients, the team is also well-versed at handling work within the asset management sector, with Mischo very skilled at providing the tax structuring pertinent to the set up of real estate, infrastructure, private equity and debt funds, as well as on the pursuant downstream investments. Schaffner is also adept at providing fund-related tax structuring as well as handling some contentious tax work, including on EU State Aid matters. Recently promoted partner Franz Kerger  is also recommended and handles a range of work related to direct and indirect taxes.

 

 

Leveraging 'a unique well of experience' among both partners and associates, who are 'always up-to-date as regards the latest developments under Luxembourg tax law', Arendt & Medernach is well-positioned to advise corporates, funds, banks, family offices and high-net-worth-individuals across the gamut of their advisory, transactional and litigation needs. 'Fantastic' team head Jan Neugebauer  is 'calm, very constructive and helpful', traits which endear him to sophisticated clients, including funds on their tax structuring, as well as financial institutions seeking to navigate the complex maze of international information exchange regulations. The vastly experienced Thierry Lesage provides 'pragmatic and creative' advice, particularly in the context of national and international tax structuring associated with fund-led M&A transactions. Other key members of the team include Alain Goebel , for transfer pricing matters; former New York office head Eric Fort , who excels at advising on corporate and private wealth tax matters with a nexus to the US; and Vincent Mahler , who is skilled at tax structuring pursuant to fund-led M&A work.

Combining local expertise with global best practice, the 'knowledgeable and experienced' team at Baker McKenzie acts on its own as well as frequently alongside international firmwide offices to provide 'pragmatic and solutions-oriented advice' on tax structuring associated with corporate and finance transactions, as well as advising on standalone compliance/advisory and litigation mandates. The team is best-known for its international tax structuring expertise, an area where the 'highly experienced and sophisticated' Diogo Duarte de Oliveira  excels and is always able to advise on the most appropriate structure to facilitate fundraising and large-scale cross-border M&A transactions. Amar Hamouche  also provides 'pragmatic and solutions-oriented advice' on corporate and international tax structuring for funds on their downstream investments (as well as on management incentive arrangements), in addition to a considerable volume of tax structuring associated with structured capital markets transactions. Antonio Weffer heads up the firm's transfer pricing sub group and often handles applicable work for funds, multinational corporates and financial services firms. As well as his flow of tax structuring for corporates, funds and financial institutions, Olivier Dal Farra, who rounds out the team at a partner level, is also noted for his 'comprehensive knowledge of wealth structuring solutions for private clients'.

Drawing upon 'very up to date knowledge across all relevant areas of tax law', the 'responsive and experienced' team at BSP is well-positioned to provide 'tailor-made and cost-effective' advice to public and private sector clients across a range of non-contentious and contentious matters. Vastly experienced team head Alain Steichen remains active on the fee-earning front alongside his duties as managing partner, and has a varied workflow that includes advice on the tax structuring pursuant to company migrations to Luxembourg, as well as an eclectic mix of tax controversy matters and negotiations with the relevant tax authorities. Steichen has also been involved in litigation related to the exchange of information, as has Pol Mellina, whose robust litigation practice also includes representing the Luxembourg State on VAT-related tax law cases. Gaëlle Felly advises on the tax implications of intra company restructurings and M&A matters, while Daniel Riedel is a 'very imaginative problem solver' across a range of domestic and international tax issues.

Tapping into a 'good knowledge of current market practice and trends', the 'innovative and well-resourced' team at Clifford Chance is very skilled at providing clients, including banks, funds and corporates, with 'out-of-the-box solutions' relating to the tax structuring of corporate, financing, investment and real estate transactions. In this context, the team is able to provide a seamless service, often working in a multi-disciplinary and cross-office fashion with lawyers throughout the firm's extensive international network. 'Outstanding' team head Geoffrey Scardoni has, over the years, gained particular prominence on behalf of major investment managers on the relevant tax structuring associated with their fund vehicles. He also continues to work alongside the firm's broader commercial litigation team on behalf of the Luxembourg VAT authorities on VAT litigation cases brought before Luxembourg courts by taxpayers. Counsel Josselin Badoc, who has a 'deep knowledge of local tax laws and market practice', is also pivotal to the aforementioned VAT litigation work.

Elvinger Hoss Prussen is 'very skilled on both Luxembourg and international tax regulations', implementing this knowledge to excellent effect particularly for investment management clients. 'Pragmatic and responsive' team head Elisabeth Adam combines 'first-class technical knowledge with commerciality' for a myriad private funds clients on the Luxembourg tax advice related to fund structuring and subsequent downstream investment work. Nadège Le Gouellec is also key to much of this fund-related work, as well as advising on applicable tax structures for finance-related transactions and representing clients engaged in tax litigation.

At the cutting-edge of new trends in the market, the 'responsive, very pragmatic and knowledgeable' team at Loyens & Loeff provides expert guidance to Luxembourg-based multinational corporates across a wide range of tax compliance work, as well as transfer pricing matters. The team also works seamlessly with other practice groups, most notably private equity and real estate, to provide the necessary structuring with regard to fund formation and transactional work. The 'charismatic' Peter Adriaansen is 'well-respected' in the market for his skill in handling complex corporate transactions, as well as for ultra high-net-worth individuals and family offices on private wealth-related tax matters. Peter Moons co-heads the team alongside Adriaansen and is particularly skilled at advising on transfer pricing issues. Other key practitioners include the 'smart and business-oriented' Pierre-Antoine Klethi who handles fund structuring and tax litigation; the 'very talented' Tom Hamen, who excels at providing tax structuring on real estate matters; and Aline Nunes , who is very skilled at advising on cross-border mandates and is noted for her conversance with the 'relevant tax developments that impact investments into and out of Luxembourg'.

Leveraging 'a very deep knowledge of Luxembourg and international tax topics', including on contentious and non-contentious matters relating to direct and indirect tax, independent business law boutique TS&P has gained an impressive foothold in the market since it was established in 2018. The team's rapid ascendancy in the market has largely been forged by the efforts of founding partner and team head André Pesch who 'has an incredible knowledge of Luxembourg tax law and the rationale behind it'. As well as being able to find the 'solutions in highly complex corporate transactions', Pesch is also noted for his involvement at a policy level in both Luxembourg and throughout Europe. VAT specialist François Antoine has 'an incredible knowledge of all rules at domestic and EU level', ensuring that he is a valued adviser to corporates and funds on the indirect tax law elements of their investment structuring, as well as in the context of VAT litigation. The 'pragmatic' Romain Jacques is lauded for his ability to provide 'clear and concise advice' across all aspects of international tax law for alternative investment funds, in particular.

 

Charles Russell Speechlys is known for its ‘proactive approach to tax planning’, often working closely with regulatory authorities and alongside colleagues across the firm’s international offices to provide ‘tailored solutions’ on complex cross-border tax structuring matters. Much of the work in this space is centred within both the private capital and family capital segments, with the team excelling in advising both privately owned investment funds/corporates, as well as ultra-high-net worth individuals and family offices deploying capital utilising a range of strategies. Team head Yacine Diallo, who has ‘unmatched technical expertise and a strategic mindset’, takes the lead on much of this international tax structuring work and is particularly skilled at assisting clients investing in the Middle East and North Africa region. At a more junior level, Alexis Urbin-Choffray continues to impress  with his ability to ‘quickly grasp complex issues and offer practical solutions’, particularly on tax structuring associated with private equity transactions and on corporate reorganisations.

With 'a nuanced understanding of market trends, regulations, and challenges', CMS excels in providing 'cutting-edge innovation and a personal, client-focused approach' to an investment management-focused client base that includes private equity firms, family offices and real estate funds. Much of the work is of a cross-border nature, where the team is particularly well-positioned to advise by virtue not only of its knowledge of international tax laws but also its collaborative approach with global offices at the firm. 'Brilliant' team head Frédéric Feyten 'thinks out of the box and always provides tailored suited advice'.

 

 

With 'rich expertise in tax and corporate legal matters', the 'very pragmatic' team at Dentons is deeply knowledgeable across both domestic and international tax matters, and provides 'pragmatic and solutions oriented' advice to corporates, funds and financial institutions across across a range of advisory/structuring matters. Much of this is in the context of cross-border mandates, with the firm able to provide an holistic service often working alongside colleagues from across the firm's extensive international footprint. Benefiting from excellent contacts throughout the tax ecosystem, a function of his many years' expertise operating at the very pinnacle of the market, Jean-Luc Fisch remains 'one of the top references for tax law in Luxembourg’, excelling at advising funds on tax efficient pan-European investment platforms.

 

Acting on its own as well as often alongside fee-earners throughout the firm's impressive international network, DLA Piper Luxembourg is best-known for its ability to provide tax structuring associated within the alternative investment funds space. 'Very responsive' team head Luis Muñoz is key to much of the tax structuring on cross-border investments handled by private equity sponsors and real estate funds, as is Jacques Wantz, who is recognised as 'a trusted advisor with exceptional industry knowledge and commercial acumen'.

'Rich in local tax knowledge and cross-border tax expertise', the 'dynamic' team at Eversheds Sutherland (Luxembourg) LLP has rapidly gained market traction under the very effective leadership of Rafael Moll de Alba since he joined in 2021 from Charles Russell Speechlys. Leveraging the firm's broader practice area skills - including across corporate and investment management - as well as having access to lawyers spread across the firm's international network, the team has been particularly active in relation to the Luxembourg-related tax structuring associated with fund launches (and pursuant investments), as well as across a range of restructuring work and corporate-led M&A. Praised for his 'legal expertise but also for his exceptional soft skills’, de Alba also excels in advising on tax structuring matters with a nexus to the LATAM region, as well as Spain.

Often working in close co-ordination with transactional lawyers across the corporate, funds and finance groups, in particular, and also having access to the expertise of lawyers spread throughout the firm's international network of offices, the 'organised, knowledgeable and highly responsive' team at Linklaters excels in providing the appropriate tax structuring pursuant to cross-border mandates in M&A, financing and restructuring contexts. Joakim-Antoine Charvet has an 'excellent knowledge and competence of the Luxembourg law' and heads up a team that also includes Danièle Buchler, who provides 'a practical and well-rounded approach' to asset managers in the set-up and tax structuring of joint venture companies and fund vehicles.

With strong domestic and international taxation knowledge, NautaDutilh is a popular choice among a varied roster of clients, including banks, funds and corporates, to provide the relevant tax structuring pursuant to a range of local and cross-border transactions. A good deal of this work is centred around the investment management sector, an area that team head Jean-Marc Groelly excels, including for private equity firms, not just on their fund structuring and pursuant downstream investments but also in the context of drafting applicable incentive schemes. The 'brilliant' Audrey Derep is also a key member of the team and handles a myriad of direct and indirect tax advisory/structuring work.

Combining an 'exceptional' blend of local knowledge with a strong international perspective, the 'technically excellent and user friendly' team at Norton Rose Fulbright is best-known for its ability to advise on the tax structuring pursuant to the office's growing fund, corporate and banking transactional practices. Here the team, which often works alongside lawyers from other international firmwide offices, excels in providing 'solutions that are both innovative and compliant with local and international tax laws'. Team head Florent Trouiller, who 'stands out for his exceptional expertise and strategic thinking in the field of taxation', takes the lead on the most complex tax structuring, including as it relates to private equity-led M&A, as well as with regard to the establishment of regulated and unregulated investment funds.

 

 

 

The 'very responsive' and 'well-rounded' team at Stibbe provides 'top-notch and meaningful advice' to corporates, funds and financial institutions on the Luxembourg tax law implications, in particular, on cross-border transactions, as well as advising on the impact of relevant legislative changes at an EU level. Key to the team's success in the market is the leadership and fee-earning skills of Johan Léonard, whose combination of 'excellent technical knowledge with a great grasp for the needs of businesses' has increasingly led to the practice being a net exporter of work within the firm to other practice groups. A 'Luxembourg and international tax encyclopedia', Leonard combines 'strong academic credentials with a very pragmatic and practical approach to transactions and structuring projects', including within the private equity space.

 

AKD provides ‘timely, technically sound and practical solutions’ to stakeholders in the asset management industry, in particular, across a range of tax advisory, compliance and tax structuring matters. The team is particularly well-placed to advise on Benelux-related cross-border mandates, often working with colleagues in Amsterdam and Brussels. The ‘extremely intelligent and experienced’ Ayzo van Eysinga and ‘technically sound’ Rutger Zaal co-head the team.

At independent full-service firm Bonn & Schmitt, Stéphane Ebel 'is a great and skilled professional who knows the market very well’, ensuring he is well-placed to advise funds and corporates across a range of indirect and direct tax matters, including with regard to litigation. Anne Selbert co-heads the team alongside Ebel and has a focus on corporate tax.

Dechert Luxembourg's team head Olivier Gaston-Braud often forms part of a multi-disciplinary, cross-office team providing the tax structuring advice pursuant to work carried out by the firm's roster of alternative funds clients.

Combining 'strong local expertise with a global perspective', DSM Avocats à la Cour provides 'tailored, strategic advice' to corporates, private clients and funds across a range of advisory and transactional-related work. Although the team is headed by managing partner Mario Di Stefano, much of the day-to-day work is handled by the 'hands-on' Alex Pham, including in the context of tax litigation.

Forming a central part of the office's alternative funds offering,  Goodwin's tax team provides the tax input pursuant to the establishment of Luxembourg domiciled fund structures. Team head Bastien Voisin  is pivotal to this work, providing 'practical advice', including to private equity, venture capital and debt funds.

Acting on its own and collaborating well with other relevant practice groups, as well as lawyers in different firmwide offices, the 'reactive and pragmatic' team at Hogan Lovells (Luxembourg) LLP provides 'comprehensive guidance' to clients across a range of direct and indirect tax matters. As well as being very conversant with private capital-related issues (both on fund set-ups and downstream investments), team head Gérard Neiens  provides 'exceptional advice' in relation to complex financing and restructuring mandates for creditors and debtors.

With an 'outstanding knowledge of current Luxembourg tax rules and how they impact clients acting in an international environment', Mourant is very well-suited to advising on the tax structuring for strategic and financial investors on cross-border M&A. In addition, the team is also skilled at handling advisory and contentious work for private clients, including HNWIs and family offices. The 'exceptional' Eléonore Galleron has very effectively eased into the role of team head following the departure in June 2024 of Pierre-Yves Magerotte, and is appreciated for her ability to 'make the link between pure tax questions and pragmatic business-oriented solutions'.

Leveraging the firm's overarching industry strength within the asset management and financial services sectors, in particular, Simmons & Simmons in Luxembourg is best known for advising on the direct and indirect tax aspects associated with capital markets and investment funds set up and transactions. Team head Julie Carbiener takes the lead on this work and has 'a very good understanding of the specificities of the Luxembourg market'.

In a rebuilding phase following the departure in 2023 of Georges Simon and Cécile Henlé, who set up tax boutique SIMON Law, Ashurst‘s team is now headed by Alexandra Clouté, who joined in January 2024 from Arendt & Medernach. Since arriving Cloute has worked closely with practitioners in key international offices, including London, on the Luxembourg structuring associated with funds-related M&A and fund launch mandates.

KLEYR GRASSO provides a 'pragmatic approach' to corporates and funds, in particular, seeking to implement the optimal Luxembourg tax structure in relation to their domestic and cross-border transactional work. Team head Lionel Bonifazzi has an 'impressive breadth of knowledge' which encompasses the aforementioned transactional-related tax structuring as well as work for tax payers in administrative and judicial proceedings in a contentious setting.

Squarely focused on the asset management sector, Maples Group‘s tax team provides ‘fully integrated advice’ alongside its investment funds team on structuring issues relating to fund set up, as well as downstream investments. Recently appointed practice head James O’Neal has developed an expertise in the mandatory disclosure rules under DAC6 and automatic exchange of information regimes. Jean-Dominique Morelli left the firm.

Formed in February 2023 following the arrival of practice head Aurélie Clementz from Linklaters, Ogier‘s tax team forms a key part of the firm’s ability to provide highly integrated advice to clients in the asset management space, working seamlessly with the investment funds team on fund set ups, as well as with corporate on the pursuant M&A.

Pinsent Masons' 'outstanding' team head David Maria provides 'solutions-oriented advice' to funds, corporates and high-net-worth-individuals across a range of advisory/tax compliance and tax structuring matters associated with transactional mandates handled by the corporate and investment funds offerings at the office.

Established in May 2024, following the arrival of Guilhèm Becvort from A&O Shearman, White & Case S.à r.l.'s nascent tax team works in a synergistic fashion alongside the office's growing funds and corporate functions to provide the relevant tax planning and risk management advice on complex, cross-border transactions.