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Europe: COVID-19 – Recovery & Renewal — EMEA Tax Issues – Wealth Management

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In brief

Baker McKenzie’s EMEA Tax Practice Group presented an overview on “Wealth Management” on 7 July 2020, the fourth in a series of short webinars to keep tax professionals abreast of recent developments in these less than certain times.

Contents

Wealth management experts in this session focused on the impact of COVID-19 on families and financial institutions across EMEA. They discussed present and future key concerns and priorities in the wealth management industry, explored potential opportunities in the new circumstances and considered how tax authorities will address the challenge of increasing collections after COVID-19.

Finally, they addressed potential tax increases and uncertainties surrounding the taxation of individuals in light of restrictions on international travel and stranded tax residents.

View the recorded webinar. Password: WMwebinar.2020

Download the materials.

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Author

Bruno Dominguez is the managing partner of Baker McKenzie's Barcelona office, head of the Tax practice in Barcelona and Chair of our Wealth Management Practice in EMEA region. Bruno has been coordinator of the Master of Laws in Taxation at the University of Barcelona, and associate professor at ESADE Business School. He has written several articles and regularly speaks at conferences and seminars on business restructuring, transfer pricing, wealth management and taxation of family businesses.

Author

Elliott Murray is head of the US Tax and Wealth Management practice in Geneva and is a partner in the Firm's International Tax and Global Wealth Management practice groups. Elliott has significant experience assisting high net worth individuals and families with US and international tax, wealth planning, and regulatory and family governance matters. Elliott is a member of the Firm’s EMEA Wealth Management Steering Committee, a co-editor of the Global Wealth Management practice group’s quarterly Private Wealth Newsletter, and has lectured at LLM programs on US tax and FATCA/CRS issues. Elliott has been listed in ALM Private Client Global Elite, Ones to Watch for 2017, 2019, 2019, and 2021. While at the University of Texas School of Law, he completed an internship (stage) at the European Court of Justice as a Dean Acheson Legal Intern.

Author

Maarten Hoelen joined Baker McKenzie in 2006 and regularly advises multinational operating companies on Dutch corporate national and international tax law and formal tax law. His clients consist primarily of innovative (Dutch) multinational companies. He assists them on setting up efficient international tax structures and assisted them with several mergers and acquisitions to grown their organizations. Recently Maarten was involved in an IPO of a well-known Dutch multinational company for which he setup their worldwide international tax structure in conjunction with the BakerMcKenzie transfer pricing team. Due to his extensive knowledge on the costs of payments and international financing, he also regularly advises several US based multinationals on the tax and financial aspects of their European operations, which allowed them to obtain significant cost savings. Besides, he often assists clients with tax audits from the local tax authorities and with legal tax procedures they are confronted with. Maarten is a lecturer at the Dutch law firm school and is currently working on a book on the Dutch Innovation box regime.

Author

Antonio Zurera joined Baker McKenzie in 2004 and was appointed partner in 2015. He focuses his practice on all aspects related to wealth management. Mr. Zurera has lectured in several conferences, and continues to contribute to economic journals and other publications.

Author

Phyllis Townsend is Partner in the Wealth Management practice in London, Chair of the EMEA Wealth Management Steering Committee and a member of the Firm's Global Wealth Management Steering Committee. Phyllis works with clients on a broad range of wealth management matters, including those with a particular focus on investment structuring. Phyllis is listed in Chambers HNW Guide, Legal 500 and Legal Week's "Private Client Global Elite - Ones to Watch". Phyllis is a member of the Founding Committee of Thought Leaders 4 Private Client Next Gen Wealth. Phyllis joined in 2012 from Rothschild Wealth Management & Trust where she was legal counsel in London and Zurich.

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