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Editorial

Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

ESMA issues new updates to UCITS and AIFMD Q&As

October 2017 - Finance. Legal Developments by Chevalier & Sciales .

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The European Securities and Markets Authority has issued fresh updates on October 5 to its Questions and Answers documents containing guidance on and interpretation of the EU’s Undertakings for Collective Investment in Transferable Securities (UCITS) and Alternative Investment Fund Managers Directive (AIFMD) regimes. ESMA says the Q&A documents aim to promote common supervisory approaches and practices in the practical application of the various UCITS directives and the AIFMD through responses to questions posed by industry members and regulators themselves.

VAT in the GCC – Q&A updates from the UAE Ministry of Finance

October 2017 - Tax & Private Client. Legal Developments by Arendt & Medernach.

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On 9 July the United Arab Emirates (UAE) Ministry of Finance (MOF) published an update of the Value Added Tax (VAT) FAQ section of its website.     

Foreign issuers on Luxembourg Stock Exchange must now provide LEI codes

October 2017 - Finance. Legal Developments by Chevalier & Sciales .

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The Luxembourg Stock Exchange now requires all domestic and foreign issuers operating on the regulated market, the Bourse de Luxembourg, or its Euro MTF multilateral trading facility, to provide the exchange with their legal entity identifier codes. The exchange has called on foreign issuers to check the ongoing validity of their LEI codes with local operating units designated by different countries and to send them to the exchange by e-mail to bolide@bourse.lu.

New Tax Procedures Law in the UAE

October 2017 - Tax & Private Client. Legal Developments by Arendt & Medernach.

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On 31 July 2017, the President of the United Arab Emirates (the “UAE”) issued the new Tax Procedures Law (the “Law”). This Law contributes to build the UAE’s tax system, to regulate the administration and collection of taxes and most importantly, to clarify the respective rights and obligations between the Federal Tax Authority (the “FTA”) and the taxpayer.

Confirmation of the end of the VAT exemption regime for financial IGPs

October 2017 - Tax & Private Client. Legal Developments by Arendt & Medernach.

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Following the Luxembourg case C-274/15, the series of cases relating to the scope of the cost-sharing VAT exemption also referred to as “Independent Group of Persons” (“IGP”) continues with the release today of three judgements by the Court of Justice of the EU (“CJUE”): Aviva (C-605/15), DNB Banka (C-326/15) and European Commission v Federal Republic of Germany (C-616/15).

Luxembourg law on the exploration and use of space resources entered into force

October 2017 - Corporate & Commercial. Legal Developments by Arendt & Medernach.

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The Luxembourg law on the exploration and use of space resources of 20 July 2017 entered into force on 2 August 2017 and placed Luxembourg among the most innovative space-oriented nations in the world.

UAE domestic VAT law released!

October 2017 - Tax & Private Client. Legal Developments by Arendt & Medernach.

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On 27 August 2017, the United Arab Emirates (the "UAE") published the text of its domestic Value Added Tax (the "VAT") Law, shortly after releasing the text of its Excise Tax Law last week, and the Federal Tax Procedures Law earlier this month. It will be followed by implementing regulations, which will provide more detail on application of the VAT Law.

ICLG 4th edition - Corporate Immigration 2017

October 2017 - Employment. Legal Developments by Arendt & Medernach.

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As Luxembourg is gaining increasing success in international mobility and business immigration, the applicable legal framework has been recently adapted by introducing several new categories of residence permits in Luxembourg, including a residence permit for investors.

Posting of workers and its implications for posting companies - New law

October 2017 - Employment. Legal Developments by Arendt & Medernach.

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A revision of the Posting Directive became necessary after it proved that the Posting Directive contained numerous pitfalls in the past. In some cases it turned out that companies posting employees were only “letterbox companies” without any substance. In other cases, situations where concerned employees’ rights were being circumvented were unveiled.

CSSF provides guidance on PRIIPs KID for Luxembourg alternative funds

September 2017 - Finance. Legal Developments by Chevalier & Sciales .

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In the latest update of its Frequently Asked Questions document on the legislation governing alternative investment fund managers, published on July 6, 2017, Luxembourg financial regulator CSSF has addressed issues raised by the introduction in January 2018 of the European Union’s regulation on Packaged Retail and Insurance-based Investment Products and its requirement for such products to provide investors with a Key Information Document.

 

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Giving the in-house community greater insight to the law and regulations in different jurisdictions.

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