Newsletters & Newsflashes

The Luxembourg tax authorities issued a circular on 8 January 2021 on the interest deduction limitation rules (“ ILR”) as foreseen in Article 168bis of the Luxembourg income tax law (“ LITL”). The original circular was already amended several times ( Circulaire du directeur des contributions L.I.R

On 28 March 2022 the CSSF published frequently ask questions (the “ FAQs”) in relation to the annual completion and transmission of the fight against money laundering and terrorist financing compliance officer’s summary report (the “ AML/CFT RC report”) as defined in Article 42 (6) and 42 (7) of the

On 22 March 2022 the Organisation for Economic Co-operation and Development (“ OECD”) released a public consultation document concerning a new global tax transparency framework to provide for the reporting and exchange of information with respect to crypto-assets, as well as proposed amendments to

As previously detailed in our newsflash dated 19 March 2020 (as updated), the Luxembourg Government has once again agreed on an “exceptional measure” with the Belgian, French and German Governments regarding the taxation of Belgian, French and German cross-border commuters normally working in

On January 20 th 2022, the Luxembourg tax authorities (“ LTA”) issued circular PRE_IMM n° 1 (the “ Circular”), regarding the 20% real estate levy (the “ Real Estate Levy”) introduced by the Luxembourg law of 19 December 2020 (the “ Law”) and applicable since fiscal year 2021. The aim of the Circular

On 9 March 2022, the Luxembourg Ministry of Finance published the draft law No.7974 (the “ Draft Law”) which relates to the interest limitation rules. The purpose of the Draft Law is to amend Article 168bis of the Luxembourg income tax law (“ LITL”) by removing the reference to securitisation

On 9 February 2022, the Luxembourg Parliament ( Chambre des Députés) adopted the draft law 7825 (the " New Law"), which amends the law of 22 March 2004 on securitisation (the “ Securitisation Law”, and as restated pursuant to the New Law, the " Amended Securitisation Law"). The New Law was published

The CSSF’s new electronic filing platform ”electronic Reporting of Information concerning Issuers of Securities” ( eRIIS) is live since 4 March 2022 and can be accessed at this link. eRIIS provides issuers and other persons subject to the Luxembourg law of 11 January 2008 on transparency

On 3 February 2022, ESMA launched its Simple, Transparent and Standardised Register (the " STS Register") which, going forward, shall list all traditional securitisations notified to ESMA by the originators and sponsors as meeting the Simple, Transparent and Standardised (STS) requirements set out

On 20 January 2022, the European Securities and Markets Authority (“ ESMA ”) launched a Common Supervisory Action (“ CSA ”) with national competent authorities (“ NCAs ”) on valuation of UCITS and open-ended AIFs (the “ CSA on Valuation ”) across the European Union (the “ EU ”). Background of the

On 24 February 2022, the European Banking Authority (" EBA ") published its guidelines (the " Guidelines ") on the limited network exclusion (" LNE ") under Directive (EU) 2015/2366 on payment services in the internal market (" PSD2 "). BACKGROUND Pursuant to Article 3(k) of PSD2 services based on

Implementation of a specific monitoring of the largest investment fund managers As a result of the prevailing market conditions relating to the current situation in Ukraine, the CSSF implemented on 25 February 2022 a specific monitoring of the largest investment fund managers (“ IFM”) in view of the