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In business, we all need easy access to relevant information. We are happy to share our expertise with you by providing regular, pragmatic and straight-to-the-point updates on recent Luxembourg legal and tax developments.
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Services between head office and branch attract VAT
In its ruling of 11 March, the European Court of Justice (ECJ) decided that services rendered by the Danish head office of the Danske Bank to its Swedish branch attract VAT. This was based on the fact that the Danish head office had joined a Danish VAT group. As a result of this decision intercompany cross-border services are inside the scope of VAT, if either the head office or the branch are a member of a VAT group. This may result in VAT leakage. We will discuss this ruling and its impact in practice.
EU Tax Alert: Brexit, Digital Taxation, Lexel AB, DAC6
The new edition of the EU Tax Alert is available. With this publication we would like to keep you informed of the latest developments on EU tax law.
Luxembourg inward investments: which taxation rules do apply?
As a major European financial centre, Luxembourg maintains a certain degree of flexibility in its legal system to cope with an ever-increasing volume of inward investment. Discover our comprehensive overview.
Climate-Aligned Issuers now displayed on the Luxembourg Green Exchange
The Luxembourg Green Exchange has recently added to its labelled bond section, a brand-new section dedicated to Climate-Aligned Issuers, built on the Climate Bonds Initiative’s issuer screening and research. This new segment will give visibility to environmentally friendly issuers of debt securities that are not necessarily labelled as green, social or sustainability bonds, but which finance low-carbon activities with a positive environmental impact.
New CSSF interactive digital portal: e-Prospectus
The CSSF has built a new digital portal (e-Prospectus) where issuers will, as of 1 March 2021, be able to submit and follow their application requests under the Prospectus Regulation and the Luxembourg Prospectus Law. Access to the e-Prospectus platform will require the possession of a LuxTrust certificate.
EU list of “non-cooperative jurisdictions” updated – new Luxembourg tax consequences
On 22 February 2021, the European Union list of “non-cooperative jurisdictions” (the EU List) has been updated by the Economic and Financial Affairs Council (ECOFIN). This update is important in Luxembourg following the recent adoption of a law (law of 10 February 2021), which disallows the deduction for income tax purposes of interest and royalties due to related companies established in a country included in the EU List. This denial of the deduction is a new measure and applies as from 1 March 2021. The deduction will not be denied where the taxpayer is able to proof that the interest or royalties have been incurred in the context of transactions that were entered into for valid bona fide commercial reasons which reflect economic reality.
Luxembourg Court of appeal issues key decision on the recognition and enforcement of ICSID awards
The Court of appeal's decision brings a final answer to the debate. While the Luxembourg courts have clarified on numerous occasions the modalities surrounding the 1958 New York Convention, case law relating to the 1965 Washington Convention remained scarce.
Excellent results Loyens & Loeff in Chambers Global 2021 rankings
Loyens & Loeff, 18 February 2021 – Loyens & Loeff reaffirms its top ranking position as a leading business law firm in the Chambers Global 2021 rankings*.
Luxembourg’s landscape for Virtual Asset Service Providers starts to take shape
Virtual Asset Service Providers (VASPs) are already subject to anti-money laundering / terrorist financing (ML/TF) obligations. In December 2020, the Luxembourg Ministry of Justice released its ML/TF risk assessment with respect to VASPs, which provides interesting insights on the inherent risk of different virtual assets and VASPs as well as the exposure of the traditional financial sector to VASP ML/TF risks. The report also sets out what is expected of VASPs in order to mitigate these risks.
Everything you need to know on Luxembourg investment funds
From the regulatory and tax environment to the fund formation, get a comprehensive overview of the Luxembourg investment funds market.
Key tax aspects of Real Estate investments 2021
Are you looking to invest in real estate in the Netherlands, Belgium, Luxembourg or Switzerland? Our ‘Key tax aspects of real estate investments 2021’ publication gives you an overview of all the relevant tax aspects that should be taken into account when structuring real estate investments in our home markets.
EU Tax Law Highlights of 2020
In the course of 2020 there were several developments in EU tax law. This annual edition of EU Tax Alert provides an overview of those developments on both direct and indirect taxation.