We would like to kindly remind you that from 7 January 2019 to 28 March 2019, the Financial Conduct Authority ("FCA") online system ‘Connect’ is open for EEA-based firms and fund managers of EEA-domiciled investment funds (UCITS and AIF) currently passported into the UK to notify the FCA about their intention to participate in the …
Finance Bill 2019: CIT reduction and optional extension of interest limitation rules on fiscal unity
On 5 March 2019 the Luxembourg government filed the new finance bill n° 7450 (“Finance Bill”) with the Luxembourg parliament
CJEU clarifies abuse and beneficial ownership concepts under the Parent Subsidiary and Interest/Roya
On 26 February 2019 the Grand Chamber of the Court of Justice of the European Union (“CJEU”) rendered 2 judgments regarding the non-application of the Parent Subsidiary Directive (Council Directive 90/435/EEC – ”PSD") and the Interest and Royalties Directive (Council Directive 2003/49/EC – “IRD”) in case of fraud or abuse, even in the absence of any …
On 31 January 2019, the bill of law n°7401 (the “Bill”) was issued on measures to be taken in relation to the financial sector in case of the withdrawal of the United Kingdom (“UK”) and North Ireland from the European Union (“EU”) (“Brexit”).
Commercial cooperation amongst competitors: the Webtaxi decision of the Competition Council of 8 Jun
On 8 June, the Luxembourg Competition Council exempted an agreement between Benelux Taxis, Inter-Taxis and other tax companies who jointly use the Webtaxi reservation centre for taking bookings from customers
On 19 April 2018, the European Parliament adopted the new directive on the prevention of the use of the financial system for the purposes of money laundering or terrorism financing.
The 5th AML Directive was published in the Official Journal of the European Union on 19 June 2018, and will enter into force 20 days thereafter.
On 31 May 2018, the law on markets in financial instruments (the “2018 Law”) as well as the grand-ducal regulation relating to safeguarding of financial instruments and funds belonging to clients, product governance obligations and the rules applicable to the provision or reception of fees, commissions or any monetary or non-monetary benefits (the “Grand-Ducal Regulation”) …
On 15 June 2018 the Luxembourg government approved 2 new bills of law: ATAD Bill and MLI Bill
On 5 July 2018, the Court of Justice of the European Union (“CJEU”) released a welcome decision in the Marle Participations case (C-320/17) concerning the deduction of input VAT by a holding company on costs incurred in relation to acquisitions and sales of shares in subsidiaries.