Newsletters & Newsflashes

On 23 August 2023, the Luxembourg Business Register (hereinafter " LBR") issued circular 16/02 (the " Circular") aiming to provide certain clarifications regarding the steps to be taken with the LBR, following the entry into force of the law of 23 July 2016 on reserved alternative investment funds

Harmonized TP framework for the EU On 12 September 2023, the European Commission (“ EC”) introduced a proposal for a Directive on transfer pricing (the “ TP Directive”). This proposal follows the EC communication “Business Taxation for the 21st Century” on 18 May 2021 and has been issued together

In a recent development, the CSSF has issued Circular 23/839, amending circular CSSF 21/789 concerning, inter alia, the self-assessment questionnaire to be submitted annually by investment fund managers and rules concerning the management letter (as amended the “ Circular”). The Circular

On 4 July 2023, in its judgment C-252/21 Meta Platforms Ireland and Others v Bundeskartellamt, the Court of Justice of the EU (the “ Court”) ruled on the interplay between the EU’s competition and data protection regulations, as well as on the core of the business model of the worldwide leading

Key takeaways On 7 September 2023, the European Court of Justice (“ ECJ”) issued its ruling in case C-453/22 where a VAT taxable person has been considered entitled to recover overpaid VAT from VAT authorities directly when the latter is not in a position to recover such overpaid VAT from its

In a judgment dated 11 July 2023 ( docket No. 48677Ca and 48684Ca), the Luxembourg Higher Administrative Court ( Cour administrative) (the “ Court”) referred several questions to the European Court of Justice (the “ ECJ”) for a preliminary ruling. The questions focus on the application of legal

One-stop shop for EU SMEs with EU permanent establishment(s) On 12 September 2023, the European Commission (“ EC”) proposed a Directive establishing a Head Office Tax system for micro, small and medium sized enterprises and amending Directive 2011/16/EU. The contemplated Head Office Tax (“ HOT”)

On 4 August 2023, the draft law No. 8291 (the " Draft Law") aimed at (i) implementing Regulation (EU) 2022/2554 of 14 December 2022 on the digital operational resilience of the financial sector and amending Regulations (EC) No 1060/2009, (EU) No 648/2012, (EU) No 600/2014, (EU) No 909/2014 and (EU)

Background On 17 May 2023, ESMA issued its opinion on undue costs of UCITS and AIFs (the “ Opinion ” ). The Opinion follows ESMAs Common Supervisory Action ( “CSA”) with National Competent Authorities ( “NCAs”) launched in January 2021. The aim of the CSA was to assess compliance with the cost

On 30 August, the Luxembourg Parliament (“ Chambre des députés”) tabled draft law No.8304 (the " Draft Law") amending the law of 29 August 2008 on the free movement of persons and immigration (the " Law"). The Draft Law aims at transposing into national law Directive (EU) 2021/1883 of 20 October

A harmonized taxable basis for the EU On 12 September 2023, the European Commission (“ EC”) proposed a Directive on Business in Europe: Framework for Income Taxation (“ BEFIT” or the “ Proposal”). The Proposal replaces to a certain extent the Common Corporate Tax Based and Consolidated Corporate Tax

The law and RGD of 21 July 2023 The law of 21 July 2023 entered into force on 28 July 2023, and contained many changes amending all of the fund product laws, amongst which changes to the subscription taxes levied on certain funds. At the same time Grand-Ducal regulation was published the purpose of