Newsletters & Newsflashes

On March 26 th 2019, the European Parliament (“ EP”) adopted a report on financial crime, tax evasion and tax avoidance (the “ Report”). The Report was prepared by the EP’s special committee, commonly referred to as “TAX3” and carries a strong political message. The recommendations range from

In March 2019, the EU’s Joint Transfer Pricing Forum (“ JTPF”) published a report (the “ Report”) on the application of the Profit Split Method (“ PSM”) within the EU. The PSM is one of the five transfer pricing methods recommended by the OECD’s transfer pricing guidelines to establish whether

On March 7 th 2019, the European Commission (“ Commission”) announced it was opening an in-depth investigation into the tax treatment of the Huhtamaki group in Luxembourg in order to determine whether Huhtamaki, a multinational consumer packaging manufacturer, was granted an unfair advantage

In 2017, the Luxembourg tax authorities, on the basis of a request for exchange of information from the Spanish tax authorities, issued two injunctions against a Luxembourg company and a Luxembourg bank in order to oblige them to provide a certain amount of information on a Spanish taxpayer

The law of 1 March 2019, amending the law of 25 November 2014, providing for the procedure applicable to the exchange of information upon request in tax matters, has been voted on February 14 th 2019 by the Luxembourg parliament and published on March 5 th 2019 (hereinafter the “ 2019 Law”). The

On March 5 th 2019, the Luxembourg Minister of Finance submitted to the Parliament the draft 2019 budget law (the " Budget"), which is expected to be approved by the end of April. The Budget includes not only individual tax measures with the aim of strengthening social cohesion and increasing the

On February 28 th 2019, the Grand Chamber of the Court of Justice of the European Union (“ ECJ” or “ the Court”) handed down a set of two judgments on the meaning of beneficial owner and abuse of rights under EU law. In six cases (Joined cases C-115/16, N Luxembourg 1, C-118/16 X Denmark, C-119/16 C

On January 17 th 2019 (ruling No. 08/2019, docket No.4067), the Court of Cassation ( Cour de Cassation) ruled that the Luxembourg VAT Authorities ( Administration de l’Enregistrement, des Domaines et de la TVA) could validly continue to notify VAT assessments to a corporate taxpayer’s former

On January 24 th 2019, the Court of Justice of the European Union (the “ ECJ”) published its judgment in the Morgan Stanley case (C-165/17), clarifying the rules governing the right to deduct input VAT incurred by a branch in connection with goods and services used for the purpose of transactions

This newsletter is intended as a general discussion of the following topics: AML, Banking & Finance, Capital Markets, 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 Luxembourg Law setting up a Register of

As a reminder, a new double Tax Treaty was signed between Luxembourg and France (hereafter the “ New Tax Treaty”) on March 20 th 2018. For a detailed review of the various impacts, please refer to our newsletter dated March 2018. It was long speculated that the New Tax Treaty could already enter

Background In 2014, the Luxembourg legislator changed the procedural rules applicable to the exchange of information upon request, in tax matters. As a consequence of the law dated November 25 th 2014, there are now no legal remedies available against an order issued by the Luxembourg tax