Thirty young talents or companies from the financial technology domain were present in the French capital to present their newest innovations and talk to European partners. Koosmik, a FinTech company from Luxembourg, won the “Special Jury Award” for their inclusive finance.
Most players are based at Luxembourg House of Financial Technologies (LHoFT), an organisation which has provided considerable support for the sector over the course of the last few years and will continue to do so in the future. Pierre Gramegna also highlighted the government’s measures and initiative to further develop the technology domain in Luxembourg.
In an interview with CNBC, Gramegna addressed the Brexit issue, saying that it has “in a way benefitted Luxembourg.”
The finance minister says that a reinforcement of the legal framework of the FinTech ecosystem should be implemented as soon as possible and on a Europe-wide level. Pierre Gramegna is pleased to see that Luxembourg’s FinTech community has continued to grow over the last year and was happy to see so many of its members in Paris. He described it as “a good representation of the dynamic, which is experiencing continued growth in Luxembourg” and as proof that “from a qualitative point of view, Luxembourg has an excellent reputation in Europe”.
Furthermore, the Luxembourgish Embassy in Paris organised a business meal, during which the tax director of the OECD and Pierre Gramegna emphasised that global digital taxation in the 127 member states would be a necessity.
This agreement would need to be shared and OECD officials are currently looking for solutions to be able to tax GAFA (Google, Apple, Facebook, Amazon) and other big names equally in all locations.
