Latest Newsletters & Newsflashes
Aug 16, 2019NEWSFLASH | Draft law on DAC6 submitted to Luxembourg Parliament
On 8 August, the Luxembourg Government submitted draft law No. 7465 (the “ Draft Law”) to the Luxembourg Parliament. The Draft Law transposes the EU Directive on the mandatory disclosure and Exchange of cross-border tax arrangements, commonly referred to as DAC6. The Draft Law now awaits the
Aug 13, 2019Newsflash | New AML Draft Law
On 8 August 2019, the Chamber of Deputies of the Grand-Duchy of Luxembourg issued a draft law 7467 (the “ Draft Law”) for the purposes of transposing some provisions of the Directive 2018/843 of 30 May 2018 (the “ 5th AML Directive”) amending Directive (EU) 2015/849 of 20 May 2015 (the “ 4th AML
Aug 12, 2019New ECJ Decision on The Abuse of Law in the Context of VAT
In a judgment handed down on 10 July 2019 (C-273-19, SIA Kuršu zeme), the European Court of Justice (“ ECJ”) ruled that, in case of a chain of successive supplies of goods, the fact that the final purchaser acquired possession of the goods in the warehouse of a person forming part of the chain that
Aug 05, 2019Esma Guidelines on MMF Regulation
On 19 July 2019, the ESMA issued its final report on the guidelines on the reporting procedure to competent authorities under Article 37 of the Regulation (EU) 2017/1131 of the European Parliament and of the Council of 14 June 2017 on money market funds (“ MMF Regulation”). These guidelines apply as
Aug 05, 2019Ilo Violence and Harassment Convention, 2019 (No. 190)
On 21 June 2019, the International Labour Organization (“ ILO”) adopted Convention No.190 concerning the elimination of violence and harassment in the world of work (hereafter the “ Convention”) and the associated recommendation No. 206 (hereafter the “ Recommendation”). CONTENT The Convention
Aug 01, 2019Judgment of the Higher Administrative Court on Hidden Dividend Distributions
By judgement dated 31 July 2019 (No. 42326C) , the Luxembourg Higher Administrative Court ( Cour Administrative) reiterated its interpretation of Article 164 of the Luxembourg income tax law regarding hidden dividend distributions. In the matter at hand, the taxpayer, a Luxembourg resident company
Aug 01, 2019The Law of 16 July 2019 | Implementation of EU Securitisation Regulation
On 18 July 2019, the Law of 16 July 2019 (the “ New Law”) implementing, among others, Regulation (EU) 2017/2402 of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation (the “ Securitisation
Jul 31, 2019Prospectus Regulation | Update of Esma Q&A
In July 2019, ESMA updated its Questions and Answers on the Prospectus Regulation (the “ PR Q&A”) relating to Regulation (EU) 2017/1129 of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market (the “ Prospectus
Jul 30, 2019Harmonised Rules for Cross-Border Marketing of Investment Funds
The long expected Directive (EU) 2019/1160 regarding cross-border distribution of collective investment funds amending the UCITS Directive and the AIFM Directive (the Directive) as well as the Regulation (EU) 201/1156 on facilitating cross-border distribution of collective investment funds and
Jul 30, 2019Prospectus Law | Entry into Force and CSSF Circular
As anticipated in our July 2019 Newsletter , the new Luxembourg law on prospectuses (the “ New Prospectus Law”) implementing Regulation (EU) 2017/1129 of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market (the “
Jul 29, 2019The Pan-European Personal Pension Product Regulation
BACKGROUND According to the Press Release of the European Commission on Pan-European Personal Pension Products only 27% of Europeans between 25 and 59 years old have currently enrolled themselves in a pension product. This is the context in which the Regulation (EU) 2019/1238 of 20 June 2019 on a
Jul 25, 2019Hidden Dividend Distributions and Transfer Pricing Reports
In a recent decision (No. 42043C dated 17 July 2019), the Higher Administrative Court ( Cour Administrative) ruled that the tax administration is entitled to requalify interest payments into a hidden distribution, if a taxpayer is not able to provide sufficient supporting documentation proving that
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