Newsletters & Newsflashes

Further to the article published in our Newsletter of October 2021 ( Luxembourg Business Register (LBR) – New RCS Filing Formalities), the RCS has now provided clarifications regarding the new filing rules that will apply from 31 March 2022. Luxembourg national identification numbers All physical

Overview On 20 December 2021, the OECD released detailed rules, the so-called Global Anti-Base Erosion (“ GloBE”) rules under BEPS 2.0 - the Pillar Two Model (" Pillar Two Model”), to assist in the implementation of a global minimum 15% tax rate to Multinational Enterprises (“ MNEs”) applicable as

Draft law proposing amendments to the Luxembourg financial collateral law On 20 December 2021, a draft law No. 7933 (the " Draft Law") was lodged with the Luxembourg Parliament (" Chambre des Députés"). While the main aim of the Draft Law is to implement Regulation (EU) 2021/23 of 16 December 2020

In a judgment dated 30 November 2021, the Luxembourg Lower Administrative Court ( Tribunal administratif) ruled that a taxpayer may not successfully modify a material error in his financial accounts in a way that has the effect of amending financial accounts of a previous year for which a tax

Overview On 22 December 2021, the European Commission released a legislative proposal for a Council Directive (“ Draft Directive” or “ Draft ATAD 3”) laying down rules to prevent the misuse of shell entities for tax purposes and amending Directive 2011/16/EU on administrative cooperation in the

On 7 September 2021, the European Commission published delegated regulation to the PRIIPs regulation amending regulatory technical standards developed by the European supervisory authorities in the Commission Delegated Regulation (EU) 2017/653 . The latter defining the presentation and content of

On 25 November 2021, the European Commission (“ EC”) published a legislative proposal to amend the Alternative Investment Funds Manager Directive (the “ AIFMD”) and the Undertakings for the Collective Investment in Transferable Securities Directive (the “ UCITS Directive”) (the “ Proposal”). The EC

Holding of ancillary liquid assets by UCITS On 3 November 2021, the CSSF published an updated version of its Frequently Asked Questions concerning the Luxembourg law of 17 December 2010 relating to undertakings for collective investment in transferable securities (the “ UCITS FAQ”) providing

In a communication of the 29 November 2021 (the “ Communication”), the CSSF, whilst acknowledging that virtual assets have generated a strong interest as a potential new asset class, addressed the challenges raised by virtual assets since this category of assets comes with a variety of rights that

On 19 November 2021, ESMA updated its Questions and Answers (" Q&A") 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

On 5 January 2022, ESMA published its final report presenting the amended version of the ESMA guidelines (the " Guidelines") on delayed disclosure of inside information, specifically addressing the interplay between the issuers’ obligation to disclose inside information under Regulation (EU) 596

On 9 December 2021, the European Court of Justice (“ ECJ”) decided on case C ‑154/20 concerning the material requirements for the deduction of input VAT. In the current case, the main question was to rule on the ways to demonstrate and prove that the supplier of the service is a taxable person