Newsletters & Newsflashes

This newsletter is intended as a general discussion of the following topics: Capital Markets, Corporate, Employment, Fintech, Investment Funds and Tax. If you would like to know more about the topics covered in this newsletter or our services please contact us. CAPITAL MARKETS Amendment of the Law

In a recent decision (No.39731 dated July 10 th 2018), the Lower Administrative Court (“ Tribunal administratif”), once again confirmed the principle that each tax year should be assessed independently. In the case at hand, an SCI (“ Société Civile Immobilière”), a type of tax transparent entity

On June 5 th 2018, the latest amendment to the Directive on Administrative Cooperation including a new set of rules on Mandatory Disclosure of Cross-border Tax Arrangements by EU intermediaries (“ DAC6”) was published in the EU official journal, making the proposal of the Commission applicable (

On June 12 th 2018, the Grand Chamber of the European Court of Justice (“ ECJ”) handed down its judgment in Case C-650/16 A/S Bevola. The case concerned the compatibility of Danish rules on the deductibility of foreign permanent establishment (“ PE”) losses with the freedom of establishment provided

On June 13 th 2018, the European Court of Justice (the “ ECJ”) handed down a ruling (Case C-421/17) on the VAT treatment of the transfer, by a limited company, to one of its shareholders, of the ownership of immovable property, as consideration for the redemption of shares. The facts of the case

On July 26 th 2018, the Luxembourg tax authority (“ LTA”) issued a circular on the taxation of virtual currencies. The LTA clarifies therein the tax treatment of operations involving virtual currencies as regards to income tax, corporate income tax and net wealth tax. The LTA starts by refusing the

On July 5 th 2018, the Court of Justice of the European Union (the “ ECJ”) handed down an important ruling, clarifying that the letting of a building, by a holding company to its subsidiary, amounts to ‘involvement in the management’ of that subsidiary, which must be considered to be an economic

On September 14 th 2018, the Law of August 31 st 2018 (hereafter the “ Law”) was published in the Luxembourg Memorial A. The Law entered into force on September 18 th 2018 allowing the use of the " SIS" sign by companies authorised as societal impact companies, introduced in Luxembourg by the law of

On August 23 rd 2018, the CSSF issued Circular 18/698 on the authorisation and organisation of investment fund managers and anti-money laundering and counter terrorist financing in relation to transfer agents and investment fund managers (the “ Circular”). The Circular immediately entered into

HISTORY The law of August 1 st 2001 (the “ 2001 Law”) on the circulation of securities and other financial instruments was already, historically, an important step towards the modernisation of financial sector legislation. The modernisation was launched and a further significant step was taken in

The Luxembourg financial supervisory authority (“ CSSF”) is for long time considering innovation as a driver of paramount importance towards the continued development of the financial services and the financial sector. In this context, besides many other actions undertaken, CSSF announced today the