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DAC 6 deadlines officially postponed in Luxembourg
The EU mandatory disclosure directive (known as DAC 6) has been implemented in Luxembourg by law of 25 March 2020. The first DAC 6 reports were due to be submitted by the end of July 2020. Due to the COVID-19 crisis, the EU Council decided to allow EU Member States to defer by up to six months the time limits for the filing and exchange of arrangements caught by DAC 6.
EU General Court annuls European Commission’s decision in Apple State aid case
The General Court’s judgment confirms the Commission’s right to investigate tax rulings under EU State aid rules and the applicability of the arm’s length principle but finds that the Commission did not sufficiently demonstrate that a selective advantage was granted to these companies.
European Commission recommends EU-wide State aid ban to companies linked to EU-blacklisted jurisdictions
On 14 July 2020, the European Commission recommended that EU member states do not grant financial support to companies with links to countries that are on the EU's list of non-cooperative tax jurisdictions.
Luxembourg is an established financial hub. Fintech has pushed financial services regulation into uncharted territory and this country has not created a regulatory sandbox. Here’s why that’s good news for Fintechs.
Like all businesses, law firms are facing the coronavirus crisis. Business continuity, in the clients’ interest, requires exemplary coordination and constant technological innovation, and therefore a successful digital transformation.