Newsflashes

By law dated 12 May 2020 (the “ Law”), the Chamber of Deputies of the Grand-Duchy of Luxembourg introduced temporary derogations from accounting requirements for financial sector entities, including funds, in the context of the fight against Covid-19 virus. The temporary derogations concern only

Background On 9 April 2020, the CSSF published Circular 20/739 on the application of the “ Guidelines on the Reporting under Articles 4 and 12 Securities Financing Transactions Regulation” (hereafter “ SFTR”), which were published on 6 January 2020 by the European Securities and Markets Authority (“

On 3 April 2020, the Secretariat of the Organisation for Economic Co-operation and Development (“ OECD”) published some guidance on certain tax issues arising when applying international tax treaties based on the OECD Model Convention (“ OECD Model”) when, as a result of the COVID-19 crisis

Within the framework of the economic stabilisation programme announced on 25 March 2020, a law establishing a guarantee scheme supporting the Luxembourg economy was published and entered into force on 18 April 2020 (the “ Law”). The Law will allow the Luxembourg State to back loans granted by credit

CONTEXT Due to the exceptional circumstances linked to the ongoing COVID-19 pandemic and the related restricting measures taken by the Luxembourg Government, including the confinement and the strong recommendation to implement remote working when possible, a significant number of people are working

On 18 March 2020, the Luxembourg government adopted a Grand-Ducal Regulation declaring a state of emergency, allowing it to take urgent measures to deal with the crisis linked to Covid-19. By a law voted on 24 March 2020, the state of emergency was extended for a maximum period of three months. With