Newsflashes

On March 27 th 2019, ESMA published new Questions & Answers on the Prospectus Regulation documents (“ Q&A”) relating to Regulation (EU) 2017/1129 of 14 June 2017 (the “ Prospectus Regulation”). The Prospectus Regulation shall be fully applicable from July 21 st 2019. The Q&A currently covers three

In anticipation of the United Kingdom leaving the European Union (or simply “ Brexit” as it is more commonly referred to) without an agreement in place (the so-called “ Hard Brexit” scenario), the Luxembourg legislator has taken swift action to facilitate a smooth transition for those who may be

On March 26 th 2019, the European Parliament (“ EP”) adopted a report on financial crime, tax evasion and tax avoidance (the “ Report”). The Report was prepared by the EP’s special committee, commonly referred to as “TAX3” and carries a strong political message. The recommendations range from

On March 27 th 2019, the Chamber of Deputies of the Grand-Duchy of Luxembourg adopted the draft law amending (1) articles L.232-2 and L.233-4 of the Labour Code and (2) article 28-1 of the amended law of April 16 th 1979 establishing the general status of civil servants (hereinafter the “ Law”). The

In March 2019, the EU’s Joint Transfer Pricing Forum (“ JTPF”) published a report (the “ Report”) on the application of the Profit Split Method (“ PSM”) within the EU. The PSM is one of the five transfer pricing methods recommended by the OECD’s transfer pricing guidelines to establish whether

On March 7 th 2019, the European Commission (“ Commission”) announced it was opening an in-depth investigation into the tax treatment of the Huhtamaki group in Luxembourg in order to determine whether Huhtamaki, a multinational consumer packaging manufacturer, was granted an unfair advantage