Newsletters & Newsflashes

On 11 June 2020, the European Court of Justice (“ ECJ”) rendered its judgment in the case ‘V odafone Portugal – Communicaçoes Pessoais SA v Autoridade Tributária e Aduaneira’’ (C-43/19) following a request for a preliminary ruling. The judgment addresses the question as to whether termination fees

On 18 August 2020, ESMA wrote to the European Commission, highlighting areas to consider during the forthcoming review of the Alternative Investment Fund Managers Directive (“ AIFMD”). ESMA recognises that the AIFMD has provided a solid framework for alternative investment funds in Europe since 2011

On 22 June 2020, the European Union published the long-awaited Regulation(EU) 2020/852 on the establishment of a framework to facilitate sustainable investment (the “ EU Taxonomy Regulation”), and amending Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services

On 9 July 2020, ESMA issued a public statement on external support under Article 35 of the money market funds (“ MMF”) regulation (“ MMF Regulation”). This statement was released in relation to financial markets authorities’ recent actions to mitigate the impact of COVID-19 on the EU’s financial

Following the publication in the EU Official Journal of seven technical standards relating 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, as amended (“the

The purpose of the draft law 7638, submitted to the Luxembourg Parliament ( Chambre des Députés) on 27 July 2020 (the “Draft Law”) is to transpose into Luxembourg law Directive (EU) 2019/878 of 20 May 2019 amending Directive 2013/36/EU as regards exempted entities, financial holding companies, mixed

As previously stated in our newsflash dated 19 March 2020 (as updated), the Luxembourg Government has agreed on an “exceptional measure” with the Belgian, French and German Governments regarding the taxation of Belgian, French and German cross-border commuters normally working in Luxembourg and now

On 14 October 2020, the Luxembourg Finance Minister presented its presented 2021 draft Budget Bill (hereinafter the “ Draft Law”), which includes a number of amendments to the Luxembourg tax system affecting both companies, investment vehicles and individuals. TAX EQUITY AND SOLIDARITY The Draft Law

Commission Delegated Regulations amending the Prospectus RTS Regulation Published on 14 September 2020 in the Official Journal of the EU, Commission Delegated Regulation (EU) 2020/1272 brought several modifications to Commission Delegated Regulation (EU) 2019/979 of 14 March 2019 supplementing

The EU Recovery Prospectus has been proposed by the European Commission in direct response to the Covid-19 pandemic The goal of the proposed Regulation which would amend Regulation (EU) 2017/1129 (the “ Prospectus Regulation”) as regards the EU Recovery prospectus and targeted adjustments for

On 17 September 2020, Advocate General Szpunar published his opinion in the case C-288/19 of the European Court of Justice (" ECJ") regarding the VAT regime applicable to the private use, by employees, of company cars. In the case at hand, a company established in the Grand Duchy of Luxembourg had

In its judgment handed down on 25 September 2020, the Lower Administrative Court ( Tribunal Administratif) considered the scope of hidden dividend distributions under Luxembourg law. In the case at hand, the taxpayer (a company) had booked in its 2013 and 2014 financial accounts provisions for