General anti-avoidance rules – business people don’t want to take risks

“We can already see that business people don’t want to take excessive risks and are either deciding to ensure that every structure has a purpose – whether it be adding personnel or some kind of activity that justifies the existence of such a company – or by closing such structures down, for example those based on a Luxembourg limited joint stock company,” said Justyna Bauta-Szostak, a partner and legal counsel at MDDP, commenting on the general anti-avoidance rules that came into force in July this year.