Latest Newsletters & Newsflashes
Jun 04, 2018No Remission for VAT in Luxembourg
On May 18 th 2018 ( Case No. 00136), the Luxembourg Constitutional Court (hereinafter the “ Court”) decided on a referral for preliminary ruling by the Luxembourg City District Court in a case regarding valued added tax (hereinafter “ VAT”). The dispute concerned an action taken by a taxpayer
Jun 04, 2018EU Commission Proposal for Amendments to the VAT Directive
On May 25 th 2018, the European Commission published a proposal for a directive on the detailed technical measures for the operation of the definitive VAT system for the taxation of trade between Member States (the “ Proposal”). The Proposal aims at amending the currently applicable VAT rules, laid
Jun 01, 2018UCITS | ESMA updated Q&A
On May 25 th 2018, ESMA issued the updated version of its UCITS Q&A creating a new Section on “Remuneration”. ESMA clarified that the remuneration-related disclosure requirements under Article 69(3)(a) of the UCITS Directive also apply to the staff of the delegate of a management company to whom
May 28, 2018NEWSFLASH | The transitory period … the end is near
Context Company law matters are regulated by the Luxembourg company law of August 10 th 1915 on commercial companies, as amended from time to time (the Law 1915) as well as some provisions of the Luxembourg civil code relating to certain Luxembourg legal entities. Amendments The Law 1915 has been
May 25, 2018NEWSFLASH | Law of 15 May 2018
The Law of May 15 th, 2018 [1] (hereinafter: “ the Law”) modifies the New Code of Civil Procedure in order to implement in Luxembourg Regulation (EU) 2015/2421 of 16 December 2015 amending Regulation (EC) No. 861/2007 establishing a European Small Claims Procedure and Regulation (EC) No. 1896/2006
May 23, 2018MIFID II & MIFIR | Update of ESMA and CSSF Q&A
In May and June this year, the European Securities and Markets Authority (“ ESMA”) updated a number of its Q&A regarding the Markets in Financial Instruments Directive (recast) – Directive 2014/65/EU (“ MiFID II”) and Markets in Financial Instruments Regulation – Regulation 600/2014 (“ MiFIR”)
May 21, 2018Statistical Reporting | Non-Regulated Funds
On May 18 th 2018, the Banque Centrale du Luxembourg (“ BCL”) released Circular BCL 2018/241 on new statistical data collection for non-regulated alternative investment funds (the “ Circular”). The purpose of the Circular is to inform non-regulated alternative investment funds of their reporting
May 16, 2018MIFID II & MIFIR | Application in Luxembourg
On May 15 th 2018 the Luxembourg law transposing Directive 2014/65/EU on markets in financial instruments (“ MiFID II”) and Article 6 of the related Delegated Directive EU 2017/593 and implementing Regulation 600/2014 (“ MiFIR”), was adopted by the Luxembourg Parliament (the “ New Law”). The New Law
Apr 30, 2018EU Proposal in Relation to Crowdfunding Service Providers for Business
On March 8 th 2018, the European Commission released a new proposal for a European Regulation on European Crowdfunding Service Providers (“ CSP”) for Business (the “ Proposal”). The Proposal has come about due to the current lack of consistency across the European Union in the treatment of CSPs, and
Apr 30, 2018Amendments to Labour Code | "Omnibus" Law of April 8th 2018
The “omnibus” law of April 8 th 2018, effective since April 15 th 2018 (hereinafter the “ Law”), amends many provisions of the Labour Code in order to strengthen the protection of employees. The main changes are as follows: Full maintenance of salary in case of incapacity for work due to illness
Apr 25, 2018BSP Newsletter | April 2018
This newsletter is intended as a general discussion of the following topics: Banking & Finance, Capital Markets, Corporate, Investment Funds and Tax. If you would like to know more about the topics covered in this newsletter or our services please contact us. AML Implementation of the 4 th Anti
Apr 24, 2018CSSF announces AML/CTF Surveys
On April 20 th 2018, the CSSF published a press release stating that they will be conducting an annual online survey of entities subject to its supervision and subject to the law of 12 November 2004 on the fight against money laundering and terrorist financing, as amended. This survey, which will
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