Latest Newsletters & Newsflashes
Jun 07, 2019Judgment of the Higher Administrative Court on the Applicability of Article 50bis LITL
On 4 June 2019, the Luxembourg Higher Administrative Court ( Cour Administrative) handed down a judgment on the application of the intellectual property partial exemption regime. In the case at hand, an individual resident taxpayer holds various patents, including the one at issue in the present
Jun 06, 2019ESMA Publishes Updated AIFMD and UCITS Q&A
On 4 June 2019, the European Securities and Markets Authority (“ ESMA”) published updated questions and answers documents (“ Q&A”) on the application of the Alternative Investment Fund Managers Directive (“ AIFMD”) and the Undertakings for Collective Investment in Transferable Securities Directive (
May 31, 2019MiFID II & MiFIR | Update of ESMA & CSSF Q&A
On 29 May 2019, ESMA updated its Q&A on the Markets in Financial Instruments Directive 2014/65/EU of 15 May 2014 (“ MiFID II”) and on the markets in Financial Instruments Regulation No. 600/2014 of 15 May 2014 (“ MiFIR”), and more specifically, its Q&A on investor protection and intermediaries (the
May 30, 2019Luxembourg Government Council approves transposition of VAT "quick fixes"
On 24 May 2019, government ministers approved the filing of the draft law providing for a transposition of Directive (EU) 2018/1910 of 4 December 2018 regarding the harmonisation and simplification of certain rules in the value added tax system for the taxation of trade between Member States (the "
May 27, 2019AML/CFT Investment Fund Questionnaire
On 23 May 2019, the CSSF disseminated a press release about the publication of an AML / CFT investment fund questionnaire in relation to money laundering and terrorist financing risks (“ ML/FT risk”). The purpose of this new questionnaire is to collect standardised key information on the money
May 23, 2019NEWSFLASH | Law of April 12th 2019 implementing a time savings account
The law of April 12 th 2019 implementing a time savings account (hereinafter the “ Law”) was published in the Memorial [*] on April 24 th 2019. The time savings account allows employees to capitalize working hours beyond the ordinary working time. 1. Beneficiaries Any employee linked to a company by
May 17, 2019Intercompany payments for fuel cards constitutes VAT exempt financing services
On 15 May 2019, the ECJ published its judgment in the Vega International case (C-235/18) confirming its previous judgment in Auto Lease Holland (C-185/01) relating to the VAT treatment of intercompany payments for the use of fuel cards. The subsidiaries of Vega International transported commercial
May 10, 2019ECJ clarifies right to deduct input VAT on mixed expenses
On 8 May 2019, the ECJ published a judgment (C-566/17 Związek Gmin Zagłębia Miedziowego w Polkowicach v Szef Krajowej Administracji Skarbowej ) clarifying the extent of the right to deduct input Value Added Tax (“ VAT”) incurred on supplies used indissociably for the purpose of economic and non
May 03, 2019BREXIT | Two new Brexit Laws for the Luxembourg Financial Sector
In anticipation of the UK leaving the EU (or simply “ Brexit” as it is more commonly referred to) without an agreement in place (the so-called “ Hard Brexit” scenario), the Luxembourg legislator has taken swift action to facilitate a smooth transition for those who may be most affected – it has
May 02, 2019NEWSFLASH | Jurisdictional immunity applies in Luxembourg when it comes to the recognition of foreign decisions
An unprecedented judgment of the First Chamber of Luxembourg District Court has been handed down on 27 March 2019, granting the immunity from jurisdiction to a foreign State (including some of its ministries and current or former head of State) and its central bank within the framework of an
Apr 24, 2019BSP Newsletter | April 2019
This newsletter is intended as a general discussion of the following topics: AML, Banking & Finance, Brexit, Capital Markets, Dispute Resolution, Investment Funds and Tax. If you would like to know more about the topics covered in this newsletter or our services please contact us. AML Register of
Apr 22, 2019CSSF Adoption of EBA PSD2 Guidelines
On March 14 th 2019, the CSSF published: CSSF Circular 19/712 (the “ Fraud Data CSSF Circular”) adopting the guidelines of the European Banking Authority (“ EBA”) on reporting requirements for fraud data under Article 96(6) of Directive (EU) 2015/2366 on payment services (“ PSD2”) - EBA/GL/2018/05
Pagination