Newsflashes

One-stop shop for EU SMEs with EU permanent establishment(s) On 12 September 2023, the European Commission (“ EC”) proposed a Directive establishing a Head Office Tax system for micro, small and medium sized enterprises and amending Directive 2011/16/EU. The contemplated Head Office Tax (“ HOT”)

Background On 17 May 2023, ESMA issued its opinion on undue costs of UCITS and AIFs (the “ Opinion ” ). The Opinion follows ESMAs Common Supervisory Action ( “CSA”) with National Competent Authorities ( “NCAs”) launched in January 2021. The aim of the CSA was to assess compliance with the cost

On 30 August, the Luxembourg Parliament (“ Chambre des députés”) tabled draft law No.8304 (the " Draft Law") amending the law of 29 August 2008 on the free movement of persons and immigration (the " Law"). The Draft Law aims at transposing into national law Directive (EU) 2021/1883 of 20 October

A harmonized taxable basis for the EU On 12 September 2023, the European Commission (“ EC”) proposed a Directive on Business in Europe: Framework for Income Taxation (“ BEFIT” or the “ Proposal”). The Proposal replaces to a certain extent the Common Corporate Tax Based and Consolidated Corporate Tax

The law and RGD of 21 July 2023 The law of 21 July 2023 entered into force on 28 July 2023, and contained many changes amending all of the fund product laws, amongst which changes to the subscription taxes levied on certain funds. At the same time Grand-Ducal regulation was published the purpose of

On 17 August 2023, the CSSF published its first set of questions and answers on virtual asset service providers (" VASP") (the " Q&A "). In its Q&A, the CSSF provides clarity on some key questions, such as who has to register as a VASP with the CSSF and when that registration should be done