Newsletters & Newsflashes

On 11 July 2023, ESMA issued a public statement on the sustainability disclosure expected to be included in prospectuses in order to satisfy the requirements of Regulation (EU) 2017/1129 of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to

On 4 August 2023, the Luxembourg government introduced to the parliament the Draft Law (the “ Pillar Two Draft Law” or the “ Draft Law”) to transpose Council Directive (EU) 2022/2523 of 14 December 2022 on ensuring a global minimum level of taxation for multinational enterprise groups and large

On 20 September 2023, the Luxembourg government submitted to the Luxembourg Parliament ( Chambre des Députés) draft law No. 8311, aiming to ratify the amending protocol to the double tax treaty between Luxembourg and Germany (the “ DTT”), as agreed and signed on 6 July 2023 in Berlin (the “ Draft

Luxembourg government introduced to the Luxembourg Parliament ( Chambre des Députés) on 31 July 2023 a draft law to modernize the Luxembourg accounting legislation (the “ Draft Law”). The Draft Law intends to clarify and consolidate general accounting legislation, currently spread in several

On 18 July 2023, a draft law introducing the concept of secondary residence into Luxembourg tax law and suggesting that certain tax benefits applicable to principal residences be extended to secondary residences (the “ Draft Law”) has been submitted to the Luxembourg Parliament ( Chambre des Députés

On 28 July 2023, the CSSF published In changes to the frequently asked questions regarding the submission of closing documents and financial information by managers (the “ FAQ”). This article provides a succinct summary of the key changes, tailored for a quick review. Context The FAQ provide certain

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