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Legal Developments in Luxembourg

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Newsflash - No VAT on management services for defined contribution pension schemes

  • Legal update - Mars 2014

  • Newsflash - Luxembourg concludes intergovernmental agreement with the US on FATCA

  • CSSF updates Q&A on AIFMD implementation law

    Luxembourg's Financial Sector Supervisory Authority has published on March 17 an update to its Frequently Asked Questions document on the grand duchy's law of July 12, 2013 implementing the European Union's Alternative Investment Fund Managers Directive, as well as the European Commission's Level 2 regulation on implementation of the AIFMD. The CSSF says the FAQ document, which is now in its sixth version in nine months, is designed to highlight certain key aspects of the AIFMD rules from a Luxembourg perspective and is primarily aimed at alternative funds and managers established in the grand duchy.
  • ESMA Q&A targets common supervisory approach to AIFM Directive application

    The European Securities and Markets Authority has published on February 17 a Question and Answers document on the Alternative Investment Fund Managers Directive, with the aim of promoting common supervisory approaches and practices in the application of the AIFMD and its implementing measures.
  • Newsflash - 9 January 2014 - CSSF press release 14/02

    On 8 January 2014 the Commission de Surveillance du Secteur Financier (the "CSSF") issued press release. This press release is relevant to all issuers whose home Member State within the meaning of the law of 11 January 2008 on transparency requirements for issuers of securities, as amended (the "Transparency Law") is Luxembourg and who prepare their financial statements in accordance with International Financial Reporting Standards (IFRS). The CSSF has announced it will focus its review on several selected subjects, discover them in the newsflash attached.
  • Luxembourg in pole position as AIFMD compliance looms

    With little more than five months to go before alternative managers active in Europe must be fully compliant with the European Union's Alternative Investment Fund Managers Directive, Luxembourg is perfectly positioned to accommodate fund firms, from global investment houses to specialist boutiques, eager to exploit the potential of a passport to an EU-wide market.
  • CSSF publishes a fourth updated version of its FAQs on the Law on AIFM - 14 January 2014

    On 10 January 2014, the Commission de Surveillance du Secteur Financier (the "CSSF") has published a fourth update of its frequently asked questions ("FAQs") on the law of 12 July 2013 on alternative investment fund managers ("AIFML") as well as the Commission Delegated Regulation n° 231/2013 of 19 December 2012.
  • Tax update - January 2014

    Discover our latest tax update. The topics of this document are: - Introduction of the bill regarding the automatic exchange of information - New circular letter of 31 December 2013 on the exchange of information upon request procedure - New circular letter on reduction of net worth tax - New VAT circular letter on fund management VAT exemption - risk management services included - Case No. 27380a dated 1 October 2013 - incompatibility of 5-year requirement for Luxembourg net wealth tax exemption with freedom of establishment - Sales made by retailers subject to VAT where a customer fraudulently uses a credit card (case C-494/12) - Inclusion of VAT in the sales price in the absence of VAT provisions in the sales contract (joined cases C-249/12 and C-250/12) - Exemption of the management of special investment funds (case C-464/12) tax_update_-_january_2014
  • Newsflash - Back to 2013

    2013 was an extremely busy year, not least with regard to the legal and regulatory changes that may impact your business. In this respect, we are pleased to provide you with an overview of the major legal and regulatory developments under Luxembourg law.