This newsletter is intended as a general discussion of the following topics: Capital Markets, Corporate, Employment, Fintech, Investment Funds and Tax.
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On June 5th 2018, the latest amendment to the Directive on Administrative Cooperation including a new set of rules on Mandatory Disclosure of Cross-border Tax Arrangements by
EU intermediaries (“DAC6”) was...
On June 13th 2018, the European Court of Justice (the “ECJ”) handed down a ruling (Case C-421/17) on the VAT treatment of the transfer, by a limited company, to one of its shareholders, of the ownership of immovable property, as consideration for the redemption of shares.
On June 12th 2018, the Grand Chamber of the European Court of Justice (“ECJ”) handed down its judgment in Case C-650/16 A/S Bevola. The case concerned the compatibility of Danish rules on the deductibility of foreign permanent establishment (“PE”) losses with the freedom of establishment provided by Article 49 of the Treaty of the Functioning of the European Union.
On July 5th 2018, the Court of Justice of the European Union (the “ECJ”) handed down an important ruling, clarifying that the letting of a building, by a holding company to its subsidiary, amounts to ‘involvement in the management’ of that subsidiary, which must be considered to be an economic activity, within the meaning of the Council Directive 2006/112/EC of November 28th 2006 on the common system of value added tax (the “VAT Directive”).
On July 26th 2018, the Luxembourg tax authority (“LTA”) issued a circular on the taxation of virtual currencies. The LTA clarifies therein the tax treatment of operations involving virtual currencies as regards to income tax, corporate income tax and net wealth tax.
On September 14th 2018, the Law of August 31st 2018 (hereafter the “Law”) was published in the Luxembourg Memorial A. The Law entered into force on September 18th 2018 allowing the use of the "SIS" sign by companies authorised as societal impact companies, introduced in Luxembourg by the law of December 12th 2016 creating...
On August 23rd 2018, the CSSF issued Circular 18/698 on the authorisation and organisation of investment fund managers and anti-money laundering and counter terrorist financing in relation to transfer agents and investment fund managers (the “Circular”). The Circular immediately entered into effect.