Latest Newsletters & Newsflashes
Feb 01, 2023BSP Newsletter | February 2023
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Jan 31, 2023Luxembourg Lower Administrative Court confirms tax treatment of alphabet shares redemption
On 27 January 2023, the Lower Administrative Court ( Tribunal adminsitratif) took, in case no. 42432, after nearly 4 years of procedures, a long awaited decision on the tax treatment applicable to the redemption of so-called alphabet shares. To the best of our knowledge this is the first case-law to
Jan 30, 2023VAT: welcome to the Digital Age
On 8 December 2022, the European Commission issued a legislative proposal for amendments to the EU VAT Directive, the Council Implementing Regulation and the Council Regulation on Administrative Cooperation as part of the package of legislation on VAT in the Digital Age initiative (" ViDA"). The VAT
Jan 30, 2023Obligation to adjust deductions of VAT if a taxable person is placed in liquidation
On 3 October 2022, following a preliminary ruling requested by the Lithuanian Supreme Court ( Lietuvos vyriausiasis administracinis teismas), the European Court of Justice (“ ECJ”) decided on case C-293/21 concerning the obligation to adjust deductions of VAT if a taxable person is placed in
Jan 27, 2023EU Listing Act | Interesting regulatory changes in the pipeline
On 7 December 2022, the European Commission put forward a set of measures to further develop the EU Capital Markets Union ( "CMU"). These measures which are commonly referred to collectively as the " Listing Act" comprise proposals for : an amending regulation amending Regulation (EU) 2017/1129 ("
Jan 25, 2023Administrative Court ruling | Communication obligations of the Luxembourg tax authorities
In a judgment dated 20 December 2022, the Luxembourg Higher Administrative Court ( Cour administrative, hereinafter the " Court") ruled on the application of paragraph 205, sub-paragraph 3 of the General Tax Law ( Abgabenordnung or " AO") in the context of the examination of a claim by the Director
Jan 25, 2023CSSF Updated Q&A on authorisation and organisation of entities acting as UCI Administrator
The Luxembourg Commission de Surveillance du Secteur Financier (the " CSSF") published on 16 May 2022 Circular 22/811 (the " Circular ") on the authorization and organization of entities acting as UCI Administrator. The Circular replaces Chapter D of Circular IML 91/175 and provides detailed
Jan 24, 2023EU Commission proposes amendment of Council Directive 2011/16/EU on administrative cooperation in the field of taxation
New transparency rules will require service providers to report crypto-asset transactions On 8 December 2022, the European Commission published its proposal for an eighth amendment to the Council Directive 2011/16/EU on administrative cooperation (" DAC8"), which aims to prevent tax fraud, tax
Jan 24, 2023New reduced subscription tax for sustainable UCIs
On 23 December 2022, the Law of 23 December 2022 concerning the State revenue and expenditure budget for the year 2023 (the " Law") was published. As a reminder, under the Law on the State revenue and expenditure budget for the year 2021, a reduced subscription tax was introduced for investment
Jan 23, 2023PRIIPS KID | CSSF update of FAQ
On 24 June 2022, the European Commission published the Commission Delegated Regulation (EU) 2022/975 (the " Delegated Regulation") in the Official Journal of the EU. This Delegated Regulation postponed the application date of particular disclosure requirements under Regulation (EU) No 1286/2014 on
Jan 20, 2023Final losses of permanent establishment | New ECJ decision
Background On 22 September 2022, the Court of Justice of the European Union (" ECJ") rendered its judgment in case C-538/20 (i.e., Finanzamt B and W AG) finding that Germany does not infringe the freedom of establishment in not allowing the tax-deduction of final losses which a German company had
Jan 20, 2023Securitisation | Recent regulatory developments
New technical standards for synthetic securitisation On 13 October 2022, Commission Implementing Regulation 2022/1929 of 31 March 2022 was published (the " New Implementing Regulation"). The New Implementing Regulation amended the implementing technical standards laid down in Implementing Regulation
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