Newsletters & Newsflashes

In a judgment dated 25 April 2023 (docket n° 47680C), the Luxembourg Higher Administrative Court ( Cour administrative ) (the “ Court”) handed down a decision concerning the deductibility of travel expenses incurred by a taxpayer when commuting from her home to her work place(s). The decision is of

On 21 July 2023, the long-awaited Draft law 6539A (since 2013), aiming at modernising the insolvency tools available for restructuring a company, has been officially adopted (but not yet published in the Journal Officiel for the law to come into force). The expectation was also due to the need for

On 19 July 2023, a draft law No. 8158 (the “ Draft Law”) aiming at implementing the Council Directive (EU) 2021/2101 of 24 November 2021 amending Directive 2013/34/EU on the communication by certain undertakings and branches of income tax information (the “ Directive”) has been submitted to the

On 24 July 2023, the law of 21 July 2023 modernising the Luxembourg fund toolbox (the “ Law”) has been published in the Luxembourg Official Gazette ( Mémorial). The Law amends the following Luxembourg laws: i) the law of 17 December 2010 relating to undertakings for collective investment (UCIs), as

On 19 July 2023, the Law of 14 July 2023 establishing a national screening mechanism for foreign direct investments likely to undermine security or public order for the purposes of implementing Regulation (EU) 2019/452 of 19 March 2019 (the “ Regulation”) establishing a framework for screening

In a nutshell: the PL8051 bill represents a significant step towards institutionalizing the temporary measures implemented during the Covid-19 crisis and modernising the interaction with the courts. By integrating these measures into the Code of Criminal Procedure, Luxembourg aims to ensure the

On 13 July 2023, Advocate General (“ AG”) Kokott delivered her opinion on the VAT treatment applicable to the services of an independent company director in the case C-288/22 TP v. Administration de l’Enregistrement des Domaines et de la TVA. The case concerned a member of the board of directors

On 16 May 2023, the Luxembourg Parliament ( Chambre des Députés) adopted a law (the “ DAC 7 Law”) implementing Council Directive (EU) 2021/514 of 22 March 2021 amending Directive 2011/16/EU on administrative cooperation in the field of taxation (“ DAC 7”), effective as of 1 June 2023 (save for the

On 5 May 2023, a draft law No. 8207 on the transparency of online payments (the “ Draft Law”) has been submitted to the Luxembourg Parliament ( Chambre des Députés). The purpose of the Law is to introduce a new electronic system to fight against VAT fraud. The Law transposes Directive (EU) 2020/284

In a judgment of 15 June 2023, the Higher Administrative Court upheld a judgment of the Lower Administrative Court, which had annulled tax returns issued against a taxpayer on the grounds that the tax authorities had failed to respect the taxpayer's rights of defence arising from the adversarial

ESMA Guidelines on MiFID II product governance requirements On 27 March 2023, ESMA published its final report on guidelines on Directive 2014/65/EU of 15 May 2014 on markets of financial instruments (“ MiFID II”), regarding product governance requirements (the " Guidelines"). The objectives of the

On 30 June 2023, the CSSF published a press release on the SFDR data collection exercise for investment fund managers (“ IFMs”) and institutions for occupational retirement provision (“ IORPs”), on periodic reporting in relation to Regulation (EU) 2019/2088 on sustainability reporting in the