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Loyens & Loeff advised Cycle Link International, a subsidiary of Shanghai based Shanying International Holdings Co. Ltd., which is one of China’s largest paper producers and packaging board manufacturers, on the acquisition of the Dutch company Waste Paper Trade (WPT) from its shareholders Karl Tönsmeier Entsorgungswirtschaft (Germany) and Lumaro Beheer (the Netherlands) which each held a 50% stake in WPT. Shanying is thereby strengthening its foothold in the European paper for recycling market.
Our M&A partner and Senior Partner China Ewout J. Stumphius acted as lead deal counsel to Shanying.
Read more information here.
As foreseen in our previous newsflash, the Law on VAT Grouping has officially been published, last Friday.
The text – which provides for an entry into force on 31 July 2018 – modifies the general VAT Law. It now enables Luxembourg entities sharing financial, economic and organisational links to set up a VAT group, thus allowing them to benefit from administrative simplification, and to potentially avoid VAT leakages. Although the mechanisms and conditions are different, the VAT grouping mechanism could be used by specific groups as an alternative to the independent group of persons (also known as cost-sharing agreements).
It is therefore now possible to introduce VAT grouping declarations.
Groups having established several Luxembourg entities should actively review their VAT position and the possibility to apply the VAT grouping...