Newsletters & Newsflashes

What is ESG and why is it a hot topic? ESG stands for environmental, social, and governance ( ESG) considerations. These are the criteria used to establish how sustainable a company’s business model is. ESG is now in the spotlight as a result of a shift in societal norms towards increased protection

On the 15 th February 2023, the European Parliament and the Council of the European Union have adopted, in first reading, the proposal amending Regulation (EU) 2015/760 on European long-term investment funds (the “ ELTIF 2.0 Proposal ”). The ELTIF 2.0 Proposal aims at amending the scope of eligible

The judgment of the Court of Justice of the European Union ( "CJEU") in joined cases C-37/20 restricted the access to the register of beneficial owners ( registre des beneficiaires effectifs, RBE). The ensuing consequences for the RBE pose, inter alia, the question of the access to the RBE by

On 27 January 2023, the Lower Administrative Court ( Tribunal adminsitratif) took, in case no. 42432, after nearly 4 years of procedures, a long awaited decision on the tax treatment applicable to the redemption of so-called alphabet shares. To the best of our knowledge this is the first case-law to

On 8 December 2022, the European Commission issued a legislative proposal for amendments to the EU VAT Directive, the Council Implementing Regulation and the Council Regulation on Administrative Cooperation as part of the package of legislation on VAT in the Digital Age initiative (" ViDA"). The VAT

On 3 October 2022, following a preliminary ruling requested by the Lithuanian Supreme Court ( Lietuvos vyriausiasis administracinis teismas), the European Court of Justice (“ ECJ”) decided on case C-293/21 concerning the obligation to adjust deductions of VAT if a taxable person is placed in

On 7 December 2022, the European Commission put forward a set of measures to further develop the EU Capital Markets Union ( "CMU"). These measures which are commonly referred to collectively as the " Listing Act" comprise proposals for : an amending regulation amending Regulation (EU) 2017/1129 ("

In a judgment dated 20 December 2022, the Luxembourg Higher Administrative Court ( Cour administrative, hereinafter the " Court") ruled on the application of paragraph 205, sub-paragraph 3 of the General Tax Law ( Abgabenordnung or " AO") in the context of the examination of a claim by the Director

The Luxembourg Commission de Surveillance du Secteur Financier (the " CSSF") published on 16 May 2022 Circular 22/811 (the " Circular ") on the authorization and organization of entities acting as UCI Administrator. The Circular replaces Chapter D of Circular IML 91/175 and provides detailed

New transparency rules will require service providers to report crypto-asset transactions On 8 December 2022, the European Commission published its proposal for an eighth amendment to the Council Directive 2011/16/EU on administrative cooperation (" DAC8"), which aims to prevent tax fraud, tax

On 23 December 2022, the Law of 23 December 2022 concerning the State revenue and expenditure budget for the year 2023 (the " Law") was published. As a reminder, under the Law on the State revenue and expenditure budget for the year 2021, a reduced subscription tax was introduced for investment