Newsletters & Newsflashes

On 8 May 2024, the Luxembourg Lower Administrative Tribunal (the “ Tribunal”) (n° 47267) ruled on the tax qualification of interest-free loans (“ IFLs”) granted by a parent company to a Luxembourg subsidiary (the “ Company”) as well as the non-existence of a Malaysian permanent establishment (the “

Background Article 26a(2) of the Regulation (EU) 2017/2402 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation (the “ EU Securitisation Regulation”) provides that the EBA (in close cooperation with ESMA and

Update to Pillar Two legislation On 12 June 2024, draft law No. 8396 has been submitted to the Luxembourg Parliament ( Chambre des Députés ) (the “ Draft Law”) proposing amendments to the Luxembourg law on Pillar Two (see our previous newsflash on the Pillar Two law). Council Directive (EU) 2022

On 11 June 2024, Prime Minister Luc Frieden delivered before the Luxembourg Parliament ( Chambre des Députés) his first general policy statement on the state of the nation (the “ Statement”). In his Statement, the Prime Minister announced specific and general tax measures to be adopted within the

On 3 July 2024, the draft law No. 8185 (the “ Draft Law”) has been voted on for the first time before the Luxembourg Parliament ( Chambre des Députés ) . A second vote on the Draft Law by the Luxembourg Parliament is normally required under the Luxembourg Constitution but it is expected that as

In a decision dated 21 March 2024 (no. 49678C), the Higher Administrative Court upheld a decision by the Director of the Luxembourg tax authorities (“ LTA”), who in a specific case refused to apply the final withholding tax on savings income in the form of interest payments made in Luxembourg to

On 25 th April 204, the Luxembourg Higher Administrative Court handed down a judgment (48917c) regarding the right to carry-forward tax losses for Luxembourg companies. In the case at hand, a company which had previously engaged in a holding activity and generated tax losses, acquired and sold a

On 4 June 2024, the Luxembourg Tax Authorities (the “ LTA”) issued the administrative circular L.I.R. n° 159/2 (the “ Circular”). The Circular provides details on the issuance of residence certificates to Luxembourg family wealth management companies ( sociétés de gestion de patrimoine familial ) (“

ESMA Report on the 2023 Common Supervisory Action and Mystery Shopping Exercise on marketing On 27 May 2024, ESMA published a report (the “ ESMA Report”) on its 2023 Common Supervisory Action (“ CSA”) with National Competent Authorities (“ NCAs”) and its Mystery Shopping Exercise (“ MSE”) related to

On 10 April 2024, the European Parliament (“ EU Parliament”) adopted its non-binding report on the proposal for a Council directive establishing a Head Office Tax system for micro, small and medium size enterprises and amending Directive 2011/16/UE. Background On 12 September 2023, the European

In a case involving a Luxembourg law firm which had been ordered by the Luxembourg Tax Authorities to disclose all documentation relating to advice given to a client for the purpose of an exchange of information upon request with the tax authority of another EU Member State, the Luxembourg Higher

On 21 May 2024, the Council of Ministers of the European Union (the " Council") unanimously approved a regulation (the " AI Act") harmonising the rules on artificial intelligence (" AI"). The Council’s position concludes a legislative journey which began on 21 April 2021 with the adoption by the