Newsletters & Newsflashes

On 17 August 2023, the CSSF published its first set of questions and answers on virtual asset service providers (" VASP") (the " Q&A "). In its Q&A, the CSSF provides clarity on some key questions, such as who has to register as a VASP with the CSSF and when that registration should be done

On 13 July 2023, in its judgement rendered in case C-615/21, the European Court of Justice (the “ ECJ”) ruled that the interruption of the statutory limitation period in respect of the right of the tax authorities to assess VAT is in line with the principles of legal certainty and of effectiveness

Entry into force The income and capital double tax treaty between Cape Verde and Luxembourg was signed on 13 January 2022 (“ DTT”). On 21 June 2023, the Luxembourg Government Council approved the ratification of the DTT. The DTT will enter into force as from 1 January of the year following the

Since our last newsletter, ESMA has published the following in relation to Directive 2014/65/EU of 15 May 2014 on markets of financial instruments (“ MiFID II”) and Regulation (EU) 600/2014 on markets of financial instruments (" MiFIR"): Final Report on the review of the technical standards for

On 13 July 2023, ESMA updated its questions and answers (“ Q&As”) in relation to Regulation (EU) 2017/2402 of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation (the “ Securitisation Regulation

Aims of the Draft Law The parliamentary process leading to the introduction of a new law on business concentrations (Draft Law No. 8296) (the “ Draft Concentration Control Law”) was started on 23 August 2023. Luxembourg is the only EU member state that does not have a national law on the control on

On 14 June 2023, the Luxembourg Lower Tribunal handed down a judgment regarding the tax treatment of the repurchase of a class of shares and the application of the general prohibition of abuse in tax law. In the case at hand, the tax administration challenged the tax treatment of the repurchase of

The law of 7 August 2023 amending i) the Labour Code, ii) the law of 29 August 2008 on the free movement of persons and immigration (the " Immigration Law") and iii) the law of 18 December 2015 on the reception of applicants for international protection and temporary protection has been published in

Two new Luxembourg laws of 29 July 2023 and 15 August 2023, which together transpose into national law Directive 2019/1158 of 20 June 2019 on work-life balance for parents and carers (the “ Laws”) have finally been published in the Luxembourg Official Gazette ( Journal Officiel). They entered into

On 3 August 2023, the CSSF published a Thematic Review on the implementation of sustainability-related provisions in the investment fund industry (the “ Thematic Review”). The objective of the Thematic Review is to inform the industry about the main observations that the CSSF has made in the context

In a judgment dated 25 April 2023 (docket n° 47680C), the Luxembourg Higher Administrative Court ( Cour administrative ) (the “ Court”) handed down a decision concerning the deductibility of travel expenses incurred by a taxpayer when commuting from her home to her work place(s). The decision is of

On 21 July 2023, the long-awaited Draft law 6539A (since 2013), aiming at modernising the insolvency tools available for restructuring a company, has been officially adopted (but not yet published in the Journal Officiel for the law to come into force). The expectation was also due to the need for