Latest Newsletters & Newsflashes
Mar 20, 2023Draft Law No. 8159 concerning the telework agreement between Luxembourg and France
On 3 February 2023, the Luxembourg government submitted to the Luxembourg Parliament (Chambre des Députés) draft law No. 8159, aiming at ratifying the recent amendment to the Double Tax Treaty between Luxembourg and France (the “DTT”) on remote workdays, as agreed and signed on 7 November 2022 in
Mar 20, 2023Newsflash | Law on Distributed Ledger Technology Adopted
On 20 March 2023, the Luxembourg law (draft law No. 8055) on distributed ledger technology (the "DLT Law") amending (i) the law of 5 April 1993 on the financial sector (the "Financial Sector Law"), (ii) the law of 5 August 2005 on financial collateral law (the "Financial Collateral Law") and (iii)
Mar 20, 2023Update to CSSF FAQ on Sustainable Finance Disclosure Regulation (“SFDR”)
On 13 March 2023, the CSSF updated the FAQ on SFDR by adding three additional questions and answers. Use of the environmental, social, and governance (“ESG”) and /or sustainability related terminology in fund names : are there any ESG and/or sustainability related considerations that financial
Mar 20, 2023ELTIF 2.0 | Published
On 20 March 2022, Regulation (EU) 2023/606 of 15 March 2023 amending Regulation (EU) 2015/760 as regards the requirements pertaining to the investment policies and operating conditions of European long-term investment funds (“ELTIF”) and the scope of eligible investment assets, the portfolio
Mar 17, 2023Prohibition of the "zero-hour contracts”
On 7 February 2023, draft law No. 8147 amending Article 211-4 of the Labour Code (hereinafter the “Draft Law”) has been submitted to the Luxembourg Parliament (Chambre des Députés). The Draft Law aims at prohibiting the practice of so-called "zero-hour contracts”. Zero-hour contracts are defined as
Mar 16, 2023Stay of execution granted due to the absence of a decision by the director of tax administration
By an order of 13 January 2023, the President of the Lower Administrative Court (Tribunal administratif) granted a request for a stay of execution on net wealth tax assessments. The case concerned a Luxembourg company which held a participation in a Swiss company. On the basis of the tax treaty
Mar 15, 2023Newsflash | The third tripartite agreement
In March 2022, the government and social partners of Luxembourg met and reached an agreement which aimed at mitigating the negative impact of the energy crisis on both the economy and households. Because of the market’s volatility, this agreement already planned that a new meeting of the Tripartite
Mar 02, 2023Video | Transmission of business
Watch the video with Alain Steichen and Pol Mellina: Transmission within the family: civil law and tax aspects The transmission of a business within the family generally occurs without the children having to pay their parents for being able to continue the family business. This is the main
Mar 02, 2023Annual online AML survey
Background On 15 February 2023, the CSSF started the annual online survey for the year 2022 (the “Survey”). The Survey remains mostly unchanged compared to previous years. However, some questions have been removed, added or amended. Purpose The purpose of the Survey remains the same and consists in
Feb 21, 2023Newsflash | ESG obligations for companies other than financial market participants in Luxembourg
What is ESG and why is it a hot topic? ESG stands for environmental, social, and governance (ESG) considerations. These are the criteria used to establish how sustainable a company’s business model is. ESG is now in the spotlight as a result of a shift in societal norms towards increased protection
Feb 20, 2023Newsflash | The European Parliament and the Council of the European Union have adopted, in first reading, the ELTIF 2.0 Proposal
On the 15th February 2023, the European Parliament and the Council of the European Union have adopted, in first reading, the proposal amending Regulation (EU) 2015/760 on European long-term investment funds (the “ELTIF 2.0 Proposal”). The ELTIF 2.0 Proposal aims at amending the scope of eligible
Feb 08, 2023Newsflash | Legality of the use of information on beneficial owners following CJEU’s 22 November 2022 judgment
The judgment of the Court of Justice of the European Union ("CJEU") in joined cases C-37/20 restricted the access to the register of beneficial owners (registre des beneficiaires effectifs, RBE). The ensuing consequences for the RBE pose, inter alia, the question of the access to the RBE by