Newsflashes

The Luxembourg Stock Exchange (the " LuxSE") has published updated versions of its Rules & Regulations (“ R&R") and Trading Manual (“ TM"), both effective June 2026. The updates touch three distinct areas: alignment with the EU Listing Act package, preparation for the shift to T+1 settlement, and a

Three recent developments under the Market Abuse Regulation (Regulation (EU) No 596/2014) (" MAR") warrant attention. On 8 May 2026, the ESMA published an update to its Questions and Answers on MAR (the " Q&A") clarifying the annual audit obligation under Commission Delegated Regulation (EU) 2016

On 17 June 2026, the General Court of the European Union handed down a judgment in case T-184/25 – Veronsaajien oikeudenvalvontayksikkö v A Oy on the VAT treatment of loan servicing. The judgment has significant implications for Luxembourg securitisation transactions. Facts of the case A Oy is the

In its judgment of 13 May 2026 in Case C-603/24 , Stellantis Portugal, S.A. (successor to General Motors Portugal (" GMP")) v Autoridade Tributária e Aduaneira , the Court of Justice of the European Union (" CJEU") confirmed that transfer pricing adjustments implemented to achieve a predetermined

On 18 June 2026, the OECD released a Public Consultation Document proposing a revision of Chapter VII of the OECD Transfer Pricing Guidelines (“T P Guidelines”) on intra-group services, which seeks to align the existing guidance with the foundational principles set out in Chapters I-III. The

In a judgment of 20 May 2026 (No. 48972 ), the Lower Administrative Court ( Tribunal administratif , the “ Tribunal”), Fifth Chamber, overturned a decision of the Direct Tax Administration (the “ DTA”) and ruled that debts recorded by a Luxembourg subsidiary under a private-law tax-sharing agreement