Citco and EY host roundtable on tax legislative impacts on alternative assets
The Citco group of companies (Citco) hosted a roundtable discussion alongside EY in October in Citco’s London office looking at the impact of several key pieces of tax legislation and their impact on the alternative investment industry.
Covering legislation across the US and Europe, including the Big Beautiful Bill, Branch Profits Tax, the upcoming UK Budget, and further developments across Europe, the event delved into the various legislative changes and the importance of working with experienced partners to keep on top of ever-changing rules.
The role of artificial intelligence in tax in areas including investor reporting and risk detection, as well as the importance of data collection, were also hot topics, with an increasing array of digital tools and solutions available to alternatives managers.
Lev Shoykhet, Head of Tax, Citco Fund Services, Jun Li, Partner, EY Global and Americas Wealth & Asset Management Leader, and Dmitri Semenov, Tax Partner, EY International Tax Services, were on hand to answer questions from attendees.
key takeaways
- Seven trends impacting wealth and asset management transformation, ranging from the importance of modernizing data and using AI, to the growth seen in private markets and how wealth managers can position for it.
- Tax treaty structures
- An update on taxation for US private credit managers
- Budget expectations in the UK
- Updates on Salaried Members Rules and UK Carried Interest Regime reform
- Taxation landscape in Switzerland, Luxembourg and UAE
Commenting on the event, Lev Shoykhet said: “There are several key developments impacting tax legislation globally this year that alternatives managers need to be aware of, and it was great to be able to dive into the details alongside EY’s tax experts.”
Citco delivers a comprehensive tax reporting solution, delivered by a global team of tax professionals. Leveraging customized tax technology and data integration, we streamline the reporting process to deliver accuracy, efficiency, and value to our clients.