Newsflashes

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

Key takeaways On 9 June 2026, the Luxembourg Government submitted eleven amendments to draft law No. 8676 introducing the Single Tax Class and individual taxation as the default personal income tax regime from 2028 onwards. The amendments follow the Council of State’s opinion of 5 May 2026 and