On Tuesday 29 November, Deloitte Luxembourg organised the eighth edition of the annual forum for the Italian business community in Luxembourg, in collaboration with the Italian Chamber of Commerce in Luxembourg and the Bocconi Alumni Association.
The conference attracted around 110 representatives from the local, Italian-speaking business community to a memorable evening at Mudam.
“Assets managed by Italian promoters in Luxembourg reached €313.5 billion in July this year. This represents a significant growth and reflects the general investment management trend in Italy. There is a clear preference for funds domiciled abroad right now,” explained Marco Crosetto, Partner at Deloitte Luxembourg and the Italian Business Community Leader.
Equity on top of the agenda
This year, the conference highlighted the important role of equity investments. The keynote speaker of the conference was therefore Leone Pattofatto, Head of Equity investments at the Cassa Depositi e Prestiti, an important player in the Italian Equity and Private Equity markets. Raffaele Rech, Director at Deloitte Italy gave an update on the most recent developments on Controlled Foreign Companies (CFC); interpello internazionale (APA); branch exemption and the international features of leveraged buy-out. Stéphanie Maschiella, Director at Deloitte Luxembourg, followed up with a taste of how the tax landscape in Luxembourg will change in the coming year. Fabrizio Dicembre, Director at Deloitte Luxembourg, put the spotlight on treasury management in the context of Basel III and highlighted the impact of the negative interest rate applied by the ECB. Finally, Ingrid Dubourdieu, Partner at D.Law, explained how the new Luxembourg commercial Law will affect business overall and the Italian Business Community in Luxembourg more specifically.
“A lot of promising talents are moving from Italy to Luxembourg because of the quality of life and the exceptional business opportunities we have in Luxembourg. It is important to note that Italian business professionals do not necessarily work for Italian companies,“ added Marco Crosetto.
The Italian Business Community at Deloitte
The Deloitte Italian business community was created to respond to the particular needs and requirements of the growing Italian business activity in Luxembourg and is closely following the Luxembourg and Italian market trends and regulatory landscape to help its members navigate and grow in both markets.
