Newsflashes

On 8 January 2021, the Luxembourg tax authorities issued a circular ( Circulaire du directeur des contributions L.I.R. n°168bis/1 du 8 janvier 2021) (the “ Circular”) on the interest deduction limitation rules (“ ILR”) as foreseen in Article 168bis of the Luxembourg income tax law (“ LITL”)

On 2 July 2020, the European Court of Justice (“ECJ”) issued its judgment in case C‑835/18, SC Terracult SRL on the possibility for a taxable person to adjust an invoice and claim a refund of unduly paid VAT despite a final VAT assessment having been issued. The case concerned a Romanian commercial

In an administrative circular dated 1 December 2020 (the “ Circular”), the Luxembourg tax administration confirmed that, following the judgment of the European Court of Justice (hereinafter the “ ECJ”) in GVC Services (Bulgaria) EOOD (C-458/18), the Parent-Subsidiary Directive (hereinafter “ PSD”)

Data Transfer On 24 November 2020, the Commission de Surveillance du Secteur Financier (CSSF) published an updated version of its Frequently Asked Questions concerning the Luxembourg Law of 17 December 2010 relating to undertakings for collective investment schemes (the “ UCITS FAQ”) and an updated

BACKGROUND On 3 April 2020, ESMA published its final guidelines on performance fees in investment funds – applicable to UCITS and certain types of AIFs (the “ Guidelines”). As a reminder, the guidelines provide comprehensive guidance to fund managers when designing performance fee models for the

On 26 November 2020, the CSSF issued Frequently Asked Questions regarding the Investor Compensation Scheme Luxembourg established by article 156 of the Law 18 December 2015 and governed by Part III, Title III of the same Law (the “ FAQ” and the “ Law”). The Investor Compensation Scheme or Système d