Newsflashes

On 23 December 2022, the Law of 23 December 2022 concerning the State revenue and expenditure budget for the year 2023 (the " Law") was published. As a reminder, under the Law on the State revenue and expenditure budget for the year 2021, a reduced subscription tax was introduced for investment

On 24 June 2022, the European Commission published the Commission Delegated Regulation (EU) 2022/975 (the " Delegated Regulation") in the Official Journal of the EU. This Delegated Regulation postponed the application date of particular disclosure requirements under Regulation (EU) No 1286/2014 on

Background On 22 September 2022, the Court of Justice of the European Union (" ECJ") rendered its judgment in case C-538/20 (i.e., Finanzamt B and W AG) finding that Germany does not infringe the freedom of establishment in not allowing the tax-deduction of final losses which a German company had

New technical standards for synthetic securitisation On 13 October 2022, Commission Implementing Regulation 2022/1929 of 31 March 2022 was published (the " New Implementing Regulation"). The New Implementing Regulation amended the implementing technical standards laid down in Implementing Regulation

The CSSF levies fees on supervised persons and institutions to cover personnel costs as well as general financial and operating costs. The level of fees is set by a Grand-Ducal Regulation which is updated from time to time and most recently by the Grand-Ducal Regulation of 23 December 2022 (the “

Background In January 2021, ESMA launched a Common Supervisory Action (" CSA") with national competent authorities (" NCAs") on the supervision of costs and fees of UCITS across the EU. The aim was to assess the compliance of supervised entities with the relevant cost-related provisions in the UCITS