Jan 03, 2019
ATAD 1 implementation law enters into force
On December 18th 2018, the Luxembourg Parliament (Chambre des Députés) passed Draft Law No. 7318 which transposes into domestic law the Anti-Avoidance Tax Directive (“ATAD”).
Publications
Newsletters & Legal Alerts
Stay informed with our Newsletters
Jan 02, 2019
Update on the EU legislative proposal to facilitate cross-border distribution of investment funds
On December 6th 2018, the Committee on Economic and Monetary Affairs (the “Committee”) adopted the report issued by Wolf KLINZ on the proposal for a directive of the European Parliament and of the Cou
Jan 02, 2019
Input VAT deduction on overhead costs in hire purchase transactions
On October 18th 2018, the Court of Justice of the European Union (the “ECJ”) handed down an important ruling (case C-153/17), providing new guidance regarding the deduction of input VAT on general ove
Jan 02, 2019
OECD guidance on the concept of substance for no or only nominal tax jurisdictions
On November 15th 2018, the Organisation for Economic Co-operation and Development (“OECD”) published technical guidance for the application of the substance requirement to “low or no tax jurisdictions
Jan 01, 2019
Eba guidelines on reporting obligations under the PSD 2 in Luxembourg
The CSSF has adopted on December 17th 2018 the guidelines of the European Banking Authority on the notification of major operational or security incidents (EBA/GL/2017/10) (the “EBA Guidelines”).
Jan 01, 2019
TAX Treaty Update
With draft law No.
Jan 01, 2019
Luxembourg government announces tax policy for the coming term (2018-2023)
The 2018 legislative elections having delivered their results, the previous coalition formed by liberals (DP), socialists (LSAP) as well as ecologists (Déi Gréng) has been re-elected for another 5-yea
Jan 01, 2019
ECJ clarification of conditions for input VAT deduction in share disposals
In a ruling issued on November 8th 2018 (C-502/17), the ECJ clarified the conditions for input VAT deduction on expenses incurred in the context of share disposal transactions.
Dec 31, 2018
NEWSFLASH | Reminder: supplementary pension schemes
The Chamber of Deputies of the Grand-Duchy of Luxembourg adopted on 1 August 2018 a law (hereinafter “the Law”) modifying the law of 8 June 1999 on supplementary pension schemes.
Dec 30, 2018
Luxembourg fiscal unity regime | Request for preliminary ruling from ECJ
By a decision of November 29th 2018, the Luxembourg Higher Administrative Court (Cour administrative) referred three questions to the European Court of Justice of ("ECJ") for a preliminary ruling conc
Dec 28, 2018
NEWSFLASH | Reminder: improvement of the employee’s situation in the event of a long-term incapacity
The Chamber of Deputies of the Grand-Duchy of Luxembourg adopted on 10 August, 2018 the law on the maintenance of the employment contract and the gradual return to work in the event of a long-term inc
Dec 28, 2018
ECJ confirms right to deduct input “VAT” following a failed takeover bid
On October 17th 2018, the Court of Justice of the European Union (the “ECJ”) handed down a ruling (C-249/17) confirming the right to deduct, in full, input VAT paid on expenditure incurred in the cont
Dec 28, 2018
OECD publishes Peer Reviews on the exchange of Tax Rulings
On December 13th 2018, the OECD published the 2017 Peer Review Reports on the Exchange of Information on Tax Rulings.
Dec 05, 2018
BREXIT | Consequences of Brexit in the Sphere of International Data Transfers
The National Commission for Data Protection (“Commission nationale pour la protection des données”, or CNPD) recently published a report on the consequences of the UK leaving the EU (“Brexit”) in the
Oct 08, 2018
BSP Newsletter | October 2018
This newsletter is intended as a general discussion of the following topics: Capital Markets, Corporate, Employment, Fintech, Investment Funds and Tax. If you would like to know more about the topics
Oct 05, 2018
Distinction Between Rental and Commercial Income under Luxembourg Tax Law
In a recent decision (No.39731 dated July 10th 2018), the Lower Administrative Court (“Tribunal administratif”), once again confirmed the principle that each tax year should be assessed independently.
Oct 05, 2018
ECJ Grand Chamber Judgment on Cross-Border Loss Relief for Permanent Establishements
On June 12th 2018, the Grand Chamber of the European Court of Justice (“ECJ”) handed down its judgment in Case C-650/16 A/S Bevola.
Oct 05, 2018
Mandatory Disclosure of Cross-Border Tax Arrangements by EU Intermediaries - DAC 6
On June 5th 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”
Oct 05, 2018
VAT Treatment of a Redemption of Shares in Kind
On June 13th 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 ownersh
Oct 05, 2018
Vat Letting of a Building Qualifies as Involvment in management of Subsidiary
On July 5th 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
Oct 05, 2018
Luxembourg Circular on Virtual Currencies
On July 26th 2018, the Luxembourg tax authority (“LTA”) issued a circular on the taxation of virtual currencies.
Oct 05, 2018
Management Companies and AIFMs | CSSF Circular 18/698
On August 23rd 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
Oct 05, 2018
Law of August 31st 2018 Concerning Societal Impact Companies
On September 14th 2018, the Law of August 31st 2018 (hereafter the “Law”) was published in the Luxembourg Memorial A.
Oct 05, 2018
Amendment of the Law of August 1st 2001 on the Circulation of Securities
HISTORY The law of August 1st 2001 (the “2001 Law”) on the circulation of securities and other financial instruments was already, historically, an important step towards the modernisation of financia
Oct 04, 2018
NEWSFLASH | 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
Oct 03, 2018
Amendment concerning the Trade and Companies Register
On September 11th 2018, the Luxembourg Grand-Ducal Regulation of August 1st 2018 amending the amended Grand-Ducal Regulation of January 23rd 2003 implementing the amended Law of December 19th 2002 on
Oct 03, 2018
NEWSFLASH | The Law on Commercial Companies dated August 10th 1915 as amended | End of Transitory Period
The law of August 10th 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
Sep 28, 2018
Simplified 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
Sep 25, 2018
Commission Concludes that Luxembourg did not grant State Aid to McDonald's
On September 19th 2018, the European Commission (“Commission”) announced that it had concluded that the treatment of McDonald’s profits in Luxembourg did not constitute illegal state
Sep 25, 2018
NEWSFLASH | Modification de la loi du 1er août 2001 concernant la circulation des titres
HISTORIQUE La loi du 1er août 2001 (la Loi de 2001) concernant la circulation des titres et autres instruments financiers était, déjà à son époque, un pas important vers la modernisation de la législa