Trésorier magazine - n°78 - 2ème trimestre 2012 - (Page 50)

VOUS AVEZ DIT “SEIGNEURIAGE” ? Le seigneuriage était le pouvoir de création de la monnaie qui appartenait au seigneur, au moyen-âge. Ce droit revenait au seigneur et donc, à la puissance publique. Aujourd’hui, un pays de la zone Euro, comme la Grèce, a perdu ce pouvoir. Certes, il faut remonter au roi de Lydie pour la création de la monnaie, objet de tous les regards en Europe depuis quelques mois. Les Rois de Lydie, terre grecque (cela ne s’invente pas) d’Asie Mineure irriguée par le non moins célèbre fleuve Pactole (tout s’explique) s’étaient arrogés le droit de « frapper » la monnaie, c’est à dire le droit d’apposer sur une pièce une valeur nominale supérieure à son coût de fabrication. Celui qui détenait le privilège de pouvoir battre monnaie avait le pouvoir de seigneuriage. C’est ce droit que les anglais ont et que les Grecs voudraient avoir aujourd’hui. C’est le célèbre Crésus qui a donné la valeur fiduciaire à la monnaie ainsi frappée, une valeur de confiance. Lorsque la monnaie était convaincante, elle circulait et s’échangeait. Le succès de la monnaie venait déjà à cette époque de la confiance en celui qui la frappait. L’EUR nous a ôté ce droit de seigneuriage que certains voudraient tant récupérer… FM 2013 for companies, individuals and municipalities: For companies the surcharge will increase from 5 % to 7 %. The maximum effective overall tax rate for companies in Luxembourg City will be 29.22% For individuals - Whose taxable income does not exceed 150,000 the surcharge will increase from 4% to 6%. As a result the maximum tax rate for such individuals will be 41.34% - Whose taxable income exceeds 150,000 (tax class 1) or 300,000 (tax class 2) the surcharge increases from 6% to 8%. As a result, the maximum tax rate in 2013 will be 42.12% For municipalities a 2% surcharge will apply. Municipalities were previously not affected by this tax regime. G The 0.8% crisis contribution levied in 2011 and repealed from 1 January 2012 will not be reinstated G Luxembourg remains very attractive with the lowest standard VAT rate in the European Union. The 15 % VAT rate remains unchanged during the current legislative period. G Although certain municipalities already have the possibility to tax the vacant accommodation, this is rarely used. In response to the housing shortage, the prime minister recommends applying this specific tax regime on vacant housing. I I I NEWS Boards) continue to make progress on their“three-bucket” expected loss approach for estimating the impairment of financial assets. It appears that the Boards have now largely completed their joint deliberations of the primary principles of the model. Overall, at this meeting, the Boards aimed to clarify certain terms and the methods expected to be implemented to achieve the objectives of the new model. At their meeting, the Boards have: G Outlined the key components of an expected loss calculation. The Boards clarified that in measuring expected credit losses, an entity should consider a range of possible outcomes that takes into account the likelihood and reasonableness of those outcomes. When considering the range of possible outcomes, an entity would not be required to consider every scenario in its probability-weighted analysis, Clarified that various approaches could be used to measure expected losses for financial assets that would be classified in Bucket 1 and, G MAJOR TAX CHANGES PROPOSED FOR 2013 On 8 May 2012, the Prime Minister Jean-Claude Juncker gave the annual “State of the Nation” speech. The main proposed tax measures concern: G The employment fund surcharge added to the income tax rates will be increased by 2% from 1 January IFRS CORNER Tentatively agreed that an expected loss approach would apply to all trade receivables without a significant financing component, but non-financial institutions may make use of certain existing practices to make their calculations. G IFRS 9 IMPAIRMENT OF FINANCIAL ASSETS — A STEP CLOSER TO COMPLETION The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) (collectively, the An exposure draft on impairment is expected to be issued in the second half of 2012. To read more about these clarifications, please refer to our IFRS Development publication (April 2012) which can be downloaded at www.ey.com/ifrs. 50 http://www.ey.com/ifrs

Table des matières de la publication Trésorier magazine - n°78 - 2ème trimestre 2012

SOMMAIRE
EDITORIAL - 2012, l’année des réglementations?
6 FINANCIAL HIGHLIGHTS
INTERVIEW - Mr. Ulf Bacher & Mr.Thomas Gerke
FOCUS
FORUM OF ADVERTISERS
CORPORATE FINANCE
TREASURERS’ ASSOCIATIONS
NEWS

Trésorier magazine - n°78 - 2ème trimestre 2012