Latest Newsletters & Newsflashes
Jun 22, 2020Extension of Immigration Deadlines and Imposition of Temporary Travel Restrictions
The law of 20 June 2020 introducing certain temporary measures relating to the application of the amended law of 29 August 2008 on the free movement of people and immigration was published on 25 June 2020 and entered into force on the same day (hereinafter referred to as the “ Law”). The purpose of
Jun 22, 2020COVID-19 | CSSF Communication on Measures for Return to on-site Work
Further to the recommendations of 14 May 2020 for supervised entities on telework and a possible return to the office (for details please see BSP Newsflash), the CSSF published on 19 June 2020 a communication on measures to be taken in light of the return to working on-site (the “ Communication”)
Jun 18, 2020Sustainable Finance Insights Series - 6 | The European Commission publishes draft delegated acts on the integration of sustainability factors under MiFID II
On 8 June 2020, the European Commission published a set of draft delegated acts concerning the integration of sustainability factors under various legislative acts such as Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for
Jun 17, 2020Draft Law on VAT Intra-EU Distance Sales Regime
On 8 June 2020, the Luxembourg government introduced a draft law on the value-added tax (“ VAT”) regime for distance sales between businesses and consumers (“ B2C”) within the EU primarily implementing the EU VAT Directive on distance sales (Directive EU/2017/2455, the “ Directive”) into the
Jun 17, 2020New Internships Arrangements for Pupils and Students
The Law of 4 June 2020 amending the Labour Code and introducing a regime of internships for school pupils and students was published on 5 June 2020 and entered into force on 9 June 2020 (hereinafter the “ Law”). The Law applies to all internship agreements concluded from 9 June 2020. Categories of
Jun 17, 2020Sustainable Finance Insights Series - 5 | The European Commission publishes proposal for amendments to UCITS implementing Directive
On 8 June 2020, the European Commission published a draft Commission Delegated Directive amending Directive 2010/43/EU as regards the sustainability risks and sustainability factors to be taken into account for undertakings for collective investment in transferable securities (the “ Draft Amendment”
Jun 17, 2020Sustainable Finance Insights Series - 4 | The European Commission publishes proposal for amendments to AIFM Regulation
On 8 June 2020, the European Commission published a draft Commission Delegated Regulation amending Delegated Regulation (EU) No 231/2013 as regards sustainability risks and sustainability factors to be taken into account by alternative Investment fund managers (the “ Draft Amendment”). The Draft
Jun 16, 2020Luxembourg Fiscal Unity Regime held Contrary to EU Law
In its judgment dated 14 May 2020, the European Court of Justice (hereinafter “ ECJ”) found the Luxembourg fiscal unity regime to be contrary to the freedom of establishment and the freedom to provide services. The Higher Administrative Court ( Cour administrative) initially submitted three
Jun 16, 2020Assessment of the AIFM Directive by the European Commission
On 10 June 2020, the European Commission published its report assessing the application and the scope of Directive 2011/61/EU of the European Parliament and of the Council on alternative investment fund managers (the “ AIFMD”). The European Commission assessed whether the specific rules of the AIFMD
Jun 15, 2020Update on Double Tax Treaties
Multilateral instrument ("MLI") The Luxembourg tax authorities recently confirmed, in a newsletter issued on 8 June 2020, their intention to publish coordinated versions of the currently enforceable double tax treaties, depicting the changes due to the Multilateral Instrument (hereafter “ MLI”) and
Jun 15, 2020Constitutional Court declares partners Non-Comparable to Married Couples
On 12th June 2020, the Luxembourg Constitutional Court handed down an anticipated decision regarding the regime on collective taxation of married couples and its alleged discrimination of persons registered as partners under the regime of the law of 9 July 2004. Indeed, article 3 (d) of the
Jun 15, 2020ESMA Briefing on the Supervision by NCAs of Costs applicable to UCITS and AIFS
Background On 4 June 2020, ESMA issued a supervisory briefing (the “ Briefing”) on the supervision by National Competent Authorities (“ NCAs”) of costs applicable to Undertakings for the Collective Investment in Transferable Securities (“ UCITS”) and Alternative Investment Funds (“ AIFs”). The
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