Latest Newsflashes
Oct 16, 2024New circular of Luxembourg tax authorities | Clarifications on the tax-exempt rent subsidy for employees
On 27 September 2024, the Luxembourg tax authorities issued Circular n° 115/14 clarifying certain aspects of the partially tax-exempt rent subsidy which has been introduced by the law of 22 May 2024 and applicable since 1 st June 2024 ( see our previous newsflash). Background The rent subsidy
Oct 15, 2024Newsflash I Reform of the administrative procedures on the registration in Luxembourg of ships and real rights thereon
The Draft Law No. 8419 to modify the administrative procedures on the registration in the Grand Duchy of Luxembourg (“ Luxembourg”) of ships and real rights thereon (the “ Draft Law”) has been submitted to the Luxembourg Parliament ( Chambre des Députés) on 23 July 2024. The main purpose of the
Oct 15, 2024Real Estate I Initial period of validity of building permits extended
On 10 October 2024, the draft law n° 8369 (the “ Draft Amendment Law”) amending the amended Law of 19 July 2004 on municipal planning and urban development (the “ Municipal Planning and Urban Development Law”), which aims to extend the initial period of validity of building permits from one year to
Oct 14, 2024Key compliance reminders from CSSF I Circular CSSF 22/811 for UCI administrators
The CSSF issues a reminder to UCI Administrators on contract obligations and new annual reporting requirements under Circular CSSF 22/811. Contractual compliance: essential elements and disclosures The CSSF's recent 3 September communiqué underlines the importance of compliance with the contractual
Oct 10, 2024AIF I Clarification by the CSSF on controls for Luxembourg depositaries of AIFs investing in illiquid assets
The CSSF issued on 24 July 2024 a clarification regarding the controls Luxembourg depositaries must implement when handling AIFs investing in illiquid assets. The CSSF has observed inconsistencies in how depositaries approach their safekeeping duties, particularly in ownership verification and
Oct 10, 2024EU Listing Act | Package adopted by the EU Council
On 8 October 2024, the Council of the EU adopted a package of new measures which are commonly referred to as the "Listing Act" consisting of: an amending regulation amending Regulation (EU) 2017/1129 (the " Prospectus Regulation"), Regulation (EU) 600/2014 (" MiFIR") and Regulation (EU) 596/2014 ("