Changes 01/01/21: increase of the minimum wage and provision of financial assistance to companies
INCREASE OF THE MINIMUM WAGE AND PROVISION OF FINANCIAL ASSISTANCE TO COMPANIES
CJEU: new developments in the realm of VAT recovery on dead deal costs
ON 12 NOVEMBER 2020, THE COURT OF JUSTICE OF THE EUROPEAN UNION (“CJEU”) GAVE ITS RULING IN THE SONAECOM CASE (C-42/19) WITH RESPECT TO ENTITLEMENT TO DEDUCT THE VAT INCURRED FOR CONSULTANCY SERVICES PROVIDED IN VIEW OF A POTENTIAL SHARE ACQUISITION, AND FOR A BANK COMMISSION ON THE SET-UP OF A BOND LOAN, WHERE NEITHER …
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The 2021 draft Italian budget law
The 2021 draft Italian budget law provides for new interesting tax measures applicable from 1st of January 2021 that will undoubtedly enhance investments in Italian companies by European investment funds.
Clarifications on the validity of insurance contracts concluded by UK insurance undertakings
IN A POST BREXIT CONTEXT VALIDITY OF INSURANCE CONTRACTS CONCLUDED BY UK INSURANCE UNDERTAKINGS IN A POST-BREXIT CONTEXT – CLARIFICATIONS BY THE LUXEMBOURG LEGISLATOR
Listed companies: ESEF requirements delayed by one year
PLEASE BE INFORMED THAT THE LUXEMBOURG COMMISSION DE SURVEILLANCE DU SECTEUR FINANCIER (CSSF) HAS DECIDED TO POSTPONE THE APPLICATION OF THE REQUIREMENTS OF THE EUROPEAN SINGLE ELECTRONIC FORMAT (ESEF) TO ANNUAL FINANCIAL REPORTS BY ONE YEAR.
Overview of the VAT impacts of Brexit
WITH THE END OF THE TRANSITION PERIOD AS OF 1 JANUARY 2021, THE UK OFFICIALLY BECAME A THIRD COUNTRY WITH RESPECT TO THE EU, MEANING THAT THE EU VAT DIRECTIVE HAS CEASED TO APPLY TO IT.
Regulatory certainty for the investment fund industry in view of the forthcoming end of Brexit
IN VIEW OF THE DEPARTURE OF THE UNITED KINGDOM FROM THE EU ON 1 FEBRUARY 2020 AND THE FORTHCOMING END OF THE TRANSITIONAL PERIOD ON 31 DECEMBER 2020, THE CSSF STATED ITS EXPECTATIONS AND RENDERED SOME CLARIFICATIONS THROUGH A PRESS RELEASE PUBLISHED ON 7 DECEMBER 2020.
Luxembourg Competition Council imposes highest ever fine for resale price maintenance agreements
LUXEMBOURG COMPETITION COUNCIL IMPOSES HIGHEST EVER FINE ON BAHLSEN AND SUPERMARKET CHAINS CACTUS, AUCHAN AND DELHAIZE FOR RESALE PRICE MAINTENANCE AGREEMENTS.
International sanctions: a dedicated regime for financial sanction in Luxembourg
ON DECEMBER 23, 2020 THE LUXEMBOURG LEGISLATOR HAS PUBLISHED THE LAW OF 19 DECEMBER 2020 IMPLEMENTING FINANCIAL RESTRICTIVE MEASURES (“LAW OF 19 DECEMBER 2020”). THIS LAW HAS REPEALED THE LAW OF 27 OCTOBER 2010 ENHANCING THE ANTI-MONEY LAUNDERING AND COUNTER TERRORIST FINANCING LEGAL FRAMEWORK.
(Some) clarifications regarding the Register of BOs
Publication of the Grand-Ducal Regulation of 15 February 2019 on the modalities for registration, payment of the administrative fees and on the access to the information registered with the register of beneficial owners.