Newsletters & Newsflashes

Urgent need to implement harmonized transfer pricing framework for the EU according to ECON On 22 February 2024, the Economic Monetary Affairs Committee (“ ECON”) of the European Parliament adopted its opinion on the European Commission’s (“ EC”) proposal for a Directive on transfer pricing (“ TP

On 19 February 2024, the OECD Council allowed an update to the Commentary 26 of the OECD Model, which relates to the exchange of information, more specifically to the question of administrative assistance. As a reminder, the exchange of information process was set up in 2009 in order to improve the

On 6 th March 2024, the Luxembourg government filed the 2024 budget bill (“ Budget Bill”) and announced that it will continue to work towards the implementation of a tax policy aimed at strengthening the competitiveness of the economy and increasing household purchasing power. While certain measures

In a judgment of 11 January 2024, the Luxembourg Higher Administrative Court annulled tax assessments issued to a taxpayer for breach of the adversarial principle set out in §205(3) AO (the Abgabenordnung ), which foresees the right for the taxpayer to be heard by the tax office before issuance of

On 20 February 2024, the European Council updated the list of non-cooperative jurisdictions for tax purposes. This list was previously updated on 17 October 2023 (please refer to our newsletters here for more details). The main change from the previous version is the withdrawal of the Bahamas

Key Takeaways On 6 February 2024, the Luxembourg Higher Administrative Court denied the benefits of the Luxembourg participation exemption to participations which had been lent by a Luxembourg-resident capital company to third-parties as “ créances-titres ”. Facts at hand In the case at hand, a

On 29 February 2024, the CSSF published a new Circular 24/854 setting out guidelines for the submission of the SRRC (as defined below) by investment fund managers and investment funds supervised by the CSSF (the “ Circular”). The Circular is supported with a FAQ (list of questions and answers) on

Embracing change in the virtual asset space The Commission de Surveillance du Secteur Financier (“ CSSF”) has recently revised its frequently asked questions (“ FAQ”) on virtual assets for undertakings for collective investment (“ UCI”) , marking another significant regulatory adjustment following a

In 2012, the European EMIR regulation came into force to improve the transparency of over-the-counter (OTC) and exchange-traded (ETD) derivatives markets and reduce credit and operational risks. Twelve years later, a regime update reinforcing the requirements applicable to derivatives processing is

In a press release dated January 31, 2024, the Commission de Surveillance du Secteur Financier (the “ CSSF”) announced changes to the method of exchanging information between UCI departments and investment fund managers in accordance with CSSF circular 19/721 - Dematerialisation of requests to the

In a press release dated 31 January 2024, the Commission de Surveillance du Secteur Financier (the "CSSF") announced that a new channel is available for alternative investment fund managers to submit their AIFM reports via Application Programming Interface (“API”) the eDesk platform. Key changes

The UK Government confirmed that investment funds regulated under Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (“