Dear Friend of the Chamber,
The objectives of the British Chamber of Commerce for Luxembourg are to follow and influence developments in the economic and business world in Luxembourg affecting members’ interests, and so contribute to making Luxembourg an attractive place to do business. The Tax and Legal groups of the BCC address key issues in their sectors to corporate and individual members through a number of events, and seek to raise awareness and influence decision makers as to the issues of concern to the BCC membership.
The purpose of the BCC Tax and Legal Newsletters is to provide additional regular bimonthly updates of key Tax and Legal developments in Luxembourg that may be relevant to your business. The present newsletters issued by member firms of the Tax and Legal groups cover the period from May to June 2023. If you deem that another person within your organisation should receive this email, please let us know. If you wish to unsubscribe please contact the BCC Secretariat by email to info@bcc.lu.
Tax Newsletter
VAT Corner:
• VAT Solutions: Increased threshold for the obligation to file Intrastat returns
• Deloitte: How to correctly apply VAT on Company cars
Luxembourg Tax Authorities publish guidelines on the Luxembourg reverse hybrid rules:
• EY
• ATOZ
Deloitte – International Tax
• International Tax Update
KPMG:
• New EU Directive aims to decrease pay gap through transparency
• Decision of the CJEU on late interest
ATOZ:
• European Commission releases FASTER Directive Proposal
• ECOFIN Council reaches an agreement on DAC8
• CJEU decision on discrimination of Luxembourg SIF
Legal Newsletter
BANKING / FINANCE:
MOLITOR Avocats à la Cour
• Fraudulent Transfer: The Payment Services Law protects the Banker of the payee
CORPORATE / M&A
AKD
• A new step towards digitalisation: online incorporation of companies soon available in Luxembourg
DLA Piper
• A welcome step towards the digitalization of company law
Loyens & Loeff Luxembourg S.à r.l.
• CLOs: Luxembourg as the new jurisdiction of choice?
NautaDutilh Avocats Luxembourg S.à r.l.
• The law on the use of digital tools and processes in company law
• Foreign Direct Investment Screening Act
PINSENT MASONS LUXEMBOURG
• Foreign direct investment in Luxembourg
BAKER & MCKENZIE
• Luxembourg: Introduction of a legal national framework for the screening of foreign direct investments
ELVINGER HOSS PRUSSEN
• Law on filtering mechanism for foreign direct investments
KLEYR GRASSO
• New law on non-profit associations and foundations
• New Law on the use of digital tools and processes in company law
DATA PROTECTION
MOLITOR Avocats à la Cour
• The General Data Protection Regulation (GDPR) Celebrates its fifth anniversary
EMPLOYMENT:
LINKLATERS LLP
• New law on the protection of whistleblowers
BONN STEICHEN & PARTNERS
• Newsflash | Entry into force of the law of 16 May 2023 on the protection of persons who report breaches of Union law: employers – are you ready?
MOLITOR Avocats à la Cour
• Protection against moral harassment at work is finally introduced in the Luxembourg Labour Code: Overview of the Contributions of the Law of 29 March 2023
BAKER & MCKENZIE
• Luxembourg: Remote working — a more flexible social security regime
DLA Piper
• Benelux Employment update – June 2023
KLEYR GRASSO
• New whistleblower regulation!
ALLEN & OVERY S.C.S.
• Right to disconnect: new legislative framework in Luxembourg
• Extended and enhanced legal protection for whistleblowers
ESG:
ELVINGER HOSS PRUSSEN
• Sustainable Finance update (asset management) – European Commission’s new sustainable finance package (Department ESG)
FINANCIAL REGULATION
PINSENT MASONS LUXEMBOURG
• ESMA consults on sustainability in suitability and product governance
Simmons & Simmons Luxembourg LLP
• Newsflash – Circular CSSF-CPDI 23/35
ELVINGER HOSS PRUSSEN
• EU Directive on non-performing loans: Luxembourg Bill introduces a framework for their transfer and a new PFS category
ALLEN & OVERY S.C.S.
• Paving the way for the future of payments
FINTECH:
Simmons & Simmons Luxembourg LLP
• AI adoption in the Luxembourg financial sector
INVESTMENT FUNDS:
NautaDutilh Avocats Luxembourg S.à r.l.
• New bill of law for the modernisation and retailisation of Luxembourg fund solutions
PINSENT MASONS LUXEMBOURG
• ELTIF 2.0 reforms designed to boost European Long-Term Investment Funds
Maples Group
• Our Thoughts on the 7th Annual European Fund Finance Symposium
LITIGATION:
BONN STEICHEN & PARTNERS
• Newsflash | New Legislation on the Execution of Freezing Orders and on the Mutual Recognition to Confiscation Orders: Towards the Implementation in Luxembourg of Regulation (EU) 2018/1805
BAKER & MCKENZIE
• Luxembourg: Reform of the Arbitration Law
REAL ESTATE:
DSM Avocats à la Cour
• VEFA: the limitations of the completion guarantee legislation
• The importance for professionals to satisfy their VEFA information and advisory obligations
• Comments on the response of the Housing Minister, the Finance Minister and the Justice Minister to parliamentary question No. 7963 on off-plan (VEFA) completion guarantees
RESTRUCTURING AND INSOLVENCY:
Loyens & Loeff Luxembourg S.à r.l.
• Common struggles faced by international creditors in Luxembourg bankruptcy proceedings
• Restructuring & Insolvency in Luxembourg: what you need to know
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Best regards,
BCC Secretariat
