Newsletters & Newsflashes

On June 29 th 2018, the Chamber of Deputies of the Grand-Duchy of Luxembourg issued a draft law 7328 on prospectuses (the “ Draft Law”) for the purposes of implementing Regulation (EU) 2017/1129 on the prospectus to be published when securities are offered to the public or admitted to trading on a

On June 11 th 2018, the director of the Luxembourg indirect tax authorities ( Administration de l’enregistrement et des domaines, “ AED”) issued a circular, which confirms that the position held by the ECJ, in its court ruling Hedqvist of October 22 nd 2015 (C-264/14), should apply in Luxembourg and

The Luxembourg Minister of Finance submitted to the Parliament on April 13 th 2018 a new draft law No. 7278, introducing the VAT group regime in Luxembourg (the “ Draft Law”). This follows the repeal on November 23 rd 2017 of the Grand-Ducal Decree dated January 21 st 2004 regarding the VAT

On June 18 th 2018, the Luxembourg government published a draft law implementing the first Anti-Tax Avoidance Directive (hereafter “ ATAD”) into Luxembourg law (please see our Newsletter of April 2016 on the topic of the ATAD). The draft law still needs to go through the Luxembourg legislative

In the framework of the June 18 th 2018 draft law implementing the first Anti-Tax Avoidance Directive (hereafter “ ATAD”) into Luxembourg law, the Luxembourg government decided to propose additional changes to the Luxembourg tax law that were not required by the ATAD but nonetheless fall, in the

On June 11 th 2018, the Luxembourg VAT authorities issued a circular letter No. 765-1 (the “ Circular”), extending the scope of application of the circular letter No. 765, released in 2013, to VAT taxable persons carrying out both economic and non-economic activities. Through the Circular, the VAT

The law of June 6 th 2018 on transparency of securities financing transactions (“ Law”) implements provisions of Regulation (EU) 2015/2365 on transparency of securities financing transaction and of reuse (“ Regulation”) relating to the imposition of sanctions for non-respect of the provisions of the

In a judgment dated June 6 th 2018, the District Court of Luxembourg ( le Tribunal d’Arrondissement de et à Luxembourg) made a mandat de protection future, under French law, enforceable, for the first time in the Grand Duchy of Luxembourg. The mandat de protection future is a protective measure

In a recent decision (No. 39382C dated May 29 th 2018), the Higher Administrative Court of Luxembourg expanded on the transfer by a taxpayer of business assets to its private wealth. The transfer and allocation of assets is generally of great significance for individuals undertaking commercial

On May 25 th 2018, the European Commission published a proposal for a directive on the detailed technical measures for the operation of the definitive VAT system for the taxation of trade between Member States (the “ Proposal”). The Proposal aims at amending the currently applicable VAT rules, laid

On May 18 th 2018 ( Case No. 00136), the Luxembourg Constitutional Court (hereinafter the “ Court”) decided on a referral for preliminary ruling by the Luxembourg City District Court in a case regarding valued added tax (hereinafter “ VAT”). The dispute concerned an action taken by a taxpayer

On May 25 th 2018, ESMA issued the updated version of its UCITS Q&A creating a new Section on “Remuneration”. ESMA clarified that the remuneration-related disclosure requirements under Article 69(3)(a) of the UCITS Directive also apply to the staff of the delegate of a management company to whom