Newsflashes

Overview On 20 December 2021, the OECD released detailed rules, the so-called Global Anti-Base Erosion (“ GloBE”) rules under BEPS 2.0 - the Pillar Two Model (" Pillar Two Model”), to assist in the implementation of a global minimum 15% tax rate to Multinational Enterprises (“ MNEs”) applicable as

Draft law proposing amendments to the Luxembourg financial collateral law On 20 December 2021, a draft law No. 7933 (the " Draft Law") was lodged with the Luxembourg Parliament (" Chambre des Députés"). While the main aim of the Draft Law is to implement Regulation (EU) 2021/23 of 16 December 2020

In a judgment dated 30 November 2021, the Luxembourg Lower Administrative Court ( Tribunal administratif) ruled that a taxpayer may not successfully modify a material error in his financial accounts in a way that has the effect of amending financial accounts of a previous year for which a tax

Overview On 22 December 2021, the European Commission released a legislative proposal for a Council Directive (“ Draft Directive” or “ Draft ATAD 3”) laying down rules to prevent the misuse of shell entities for tax purposes and amending Directive 2011/16/EU on administrative cooperation in the

On 7 September 2021, the European Commission published delegated regulation to the PRIIPs regulation amending regulatory technical standards developed by the European supervisory authorities in the Commission Delegated Regulation (EU) 2017/653 . The latter defining the presentation and content of

On 25 November 2021, the European Commission (“ EC”) published a legislative proposal to amend the Alternative Investment Funds Manager Directive (the “ AIFMD”) and the Undertakings for the Collective Investment in Transferable Securities Directive (the “ UCITS Directive”) (the “ Proposal”). The EC