Newsflashes

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

As announced in a previous information letter dated September 25 th 2018, the Luxembourg legislator was working on a bill of law ( PL7363) aimed at modernising the law of August 1 st 2001 (the 2001 Law) on the circulation of securities and other financial instruments, which had already made

In 2017, the Luxembourg tax authorities, on the basis of a request for exchange of information from the Spanish tax authorities, issued two injunctions against a Luxembourg company and a Luxembourg bank in order to oblige them to provide a certain amount of information on a Spanish taxpayer