Latest Newsletters & Newsflashes
Oct 05, 2018Mandatory Disclosure of Cross-Border Tax Arrangements by EU Intermediaries - DAC 6
On June 5 th 2018, the latest amendment to the Directive on Administrative Cooperation including a new set of rules on Mandatory Disclosure of Cross-border Tax Arrangements by EU intermediaries (“ DAC6”) was published in the EU official journal, making the proposal of the Commission applicable (
Oct 05, 2018VAT Treatment of a Redemption of Shares in Kind
On June 13 th 2018, the European Court of Justice (the “ ECJ”) handed down a ruling (Case C-421/17) on the VAT treatment of the transfer, by a limited company, to one of its shareholders, of the ownership of immovable property, as consideration for the redemption of shares. The facts of the case
Oct 05, 2018ECJ Grand Chamber Judgment on Cross-Border Loss Relief for Permanent Establishements
On June 12 th 2018, the Grand Chamber of the European Court of Justice (“ ECJ”) handed down its judgment in Case C-650/16 A/S Bevola. The case concerned the compatibility of Danish rules on the deductibility of foreign permanent establishment (“ PE”) losses with the freedom of establishment provided
Oct 05, 2018Luxembourg Circular on Virtual Currencies
On July 26 th 2018, the Luxembourg tax authority (“ LTA”) issued a circular on the taxation of virtual currencies. The LTA clarifies therein the tax treatment of operations involving virtual currencies as regards to income tax, corporate income tax and net wealth tax. The LTA starts by refusing the
Oct 05, 2018Vat Letting of a Building Qualifies as Involvment in management of Subsidiary
On July 5 th 2018, the Court of Justice of the European Union (the “ ECJ”) handed down an important ruling, clarifying that the letting of a building, by a holding company to its subsidiary, amounts to ‘involvement in the management’ of that subsidiary, which must be considered to be an economic
Oct 05, 2018Management Companies and AIFMs | CSSF Circular 18/698
On August 23 rd 2018, the CSSF issued Circular 18/698 on the authorisation and organisation of investment fund managers and anti-money laundering and counter terrorist financing in relation to transfer agents and investment fund managers (the “ Circular”). The Circular immediately entered into
Oct 05, 2018Law of August 31st 2018 Concerning Societal Impact Companies
On September 14 th 2018, the Law of August 31 st 2018 (hereafter the “ Law”) was published in the Luxembourg Memorial A. The Law entered into force on September 18 th 2018 allowing the use of the " SIS" sign by companies authorised as societal impact companies, introduced in Luxembourg by the law of
Oct 05, 2018Amendment of the Law of August 1st 2001 on the Circulation of Securities
HISTORY The law of August 1 st 2001 (the “ 2001 Law”) on the circulation of securities and other financial instruments was already, historically, an important step towards the modernisation of financial sector legislation. The modernisation was launched and a further significant step was taken in
Oct 04, 2018NEWSFLASH | Announcement CSSF – October 4th 2018
The Luxembourg financial supervisory authority (“ CSSF”) is for long time considering innovation as a driver of paramount importance towards the continued development of the financial services and the financial sector. In this context, besides many other actions undertaken, CSSF announced today the
Oct 03, 2018NEWSFLASH | The Law on Commercial Companies dated August 10th 1915 as amended | End of Transitory Period
The law of August 10 th 1915 on commercial companies as amended (" LCC") had long since evolved at a glacial pace, following European directives over the years; thus the need for an ambitious reform to ensure its modernization and increase its attractiveness. This reform came into force on August 23
Oct 03, 2018Amendment concerning the Trade and Companies Register
On September 11 th 2018, the Luxembourg Grand-Ducal Regulation of August 1 st 2018 amending the amended Grand-Ducal Regulation of January 23 rd 2003 implementing the amended Law of December 19 th 2002 on the trade and companies register and on the accounting records and annual accounts of
Sep 28, 2018Simplified Registration and Collection Mechanisms for Non-Resident Taxpayers
The OECD recently released a working paper on simplified registration and collection mechanisms aimed at tax authorities and addressing the issue of the effective enforcement of taxation rights on non-resident taxpayers. Countries generally have two options in order to enforce the tax collection
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