Newsletters & Newsflashes

Amendments to MiFID II and MiFIR Further to the entry into force of Regulation (EU) 2024/2809 (the " Listing Act Regulation"), Article 25 of MiFIR has been amended. Article 25 deals with the obligations on the operators of a trading venue to keep at the disposal of the competent authority, for at

The law of 4 April 2025 on credit instant payments entered into force on the 11 April 2025. It implements the Regulation (EU) 2024/886 as regards instant credit transfers in euro (the “ ICT Regulation”) which aims at making instant payments fully available in euro to consumers and businesses across

Starting April 2025, the CSSF has introduced a new e-Identification system to replace the current VISA procedure for fund prospectuses, including UCITS, Part II UCIs, SICARs, and SIFs. The key changes include: each prospectus will receive a unique identification number and an e-Identification date

On 26 February 2025, the Luxembourg Direct Tax Authorities issued a new Circular L.I.R. No. 154 ter/1, replacing Circular L.I.R. No. 154 ter/1 dated 24 May 2023, on single-parent tax credit (" CIM") provided for in Article 154 ter of the Luxembourg income tax law (“ LITL”). As from the 2025 tax year

Since our last newsletter , several publications by ESMA have provided further clarity on various aspects of the Markets in Crypto-Assets Regulation (“ MiCA Regulation” or " MiCAR"). Public statement on crypto services for non-Mica ARTs and EMTs On 17 January 2025, ESMA published a public statement

Key takeaways On 14 February 2025, the Court of Justice of the European Union (“ ECJ”) handed down a reasoned order in case C-270/24, Granulines Invest Kft, regarding the right to deduct input value added tax (“ VAT”) for invoice incorrectness pertaining to the supply of goods. Facts of the case The

On 12 February 2025, Draft Law No. 8498 (" Draft Law") was submitted to the Luxembourg Parliament ( Chambre des Députés ). The Draft Law aims to implement Regulation (EU) 2024/791 (the " MiFIR Amending Regulation") and transpose into Luxembourg law: Directive (EU) 2024/790 (the " MiFID II Amending

The Luxembourg Stock Exchange (“ LuxSE”) has recently published two sets of updates to its Rules & Regulations (“ R&R”) January 2025 Update – aligning with the Listing Act On 9 January 2025, LuxSE published revised R&R to reflect recent amendments to the Prospectus Regulation introduced by the EU

The law of 22 May 2024 provided for several short term tax measures (applicable for fiscal year 2024) in favour of the Luxembourg real estate market as well as long term tax measures applicable as from 2025 (see our previous newsflash ). To support the ongoing recovery of the real estate sector, the

On 3 April 2025, the European Court of Justice (“ ECJ”) delivered a decision ( C‑228/24 ) providing clarifications on the interpretation of the anti-abuse provision included in the parent-subsidiary directive. The decision recalls the broad character of the rule, not limited to identifying conduit

On 4 April 2025, Draft Law No. 8526 was submited to the Luxembourg Parliament ( Chambre des Députés ) and intends to introduce, as from fiscal year 2026, a tax credit for private individuals investing in Luxembourg startups amounting to 20% of their equity investment. The measure is designed to ease