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 September to October 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 – BELGIUM – Clarification of VAT treatment of company cars made available to Belgian employees
• Deloitte – Belgian VAT circular: Impacts for residents with foreign employer-provided cars
EY:
• Luxembourg legislation modernizes subscription tax regime
• Worldwide Corporate Tax Guide 2023
KPMG:
• VAT and company cars: Belgian circular published!
• EU Proposals to Harmonize TP Rules and Corporate Tax Bases of Large Groups
• Luxembourg administrative court nullifies a tax ruling due to change in the situation of taxpayer
• Unraveling the recent Luxembourg constitutional challenge: Minimum net wealth tax in spotlight
Deloitte:
• Pillar Two draft law—Phase one: To be or not to be in scope of Pillar Two
• Pillar Two draft law—Phase two: Demystification of the top-up tax
• Pillar Two draft law—Phase three: Diving into the effective tax rate computation
• Pillar Two draft law—Phase four: Administrative compliance obligations
ATOZ:
• Directive Proposal on BEFIT: A real necessity or just another layer of useless complexity?
• EU list of non-cooperative tax jurisdictions updated, and DAC8 adopted
• European Commission releases Directive Proposal on Transfer Pricing: A trojan horse? | ATOZ Tax Advisers Luxembourg
Legal Newsletter
BANKING:
Linklaters LLP
• New Luxembourg Insolvency Law Reform – Part 1: Stay of Proceedings
• New Luxembourg Insolvency Law Reform – Part 2: Creditors’ Agreement: the Restructuring Plan
• New Luxembourg Insolvency Law Reform – Part 3: Transfer by Court Order
Bonn Steichen & Partners
• Draft Law No. 8291 on the digital operational resilience of the financial sector
CAPITAL MARKETS:
Clifford Chance
• The evolution of digital bonds: recent milestones on the journey to a digital bond market in Europe
CORPORATE / M&A
DSM Avocats à la cour
• The law amending the Law of 2 September 2011 regulating access to the professions of artisan, merchant, manufacturer and certain liberal professions
• Reform of Luxembourg’s non-profit (ASBL) regime: decoding the main amendments
Baker & McKenzie Luxembourg
• Non-profit associations and foundations reform
Allen & Overy
• Luxembourg case law briefing – corporate law highlights
Bonn Steichen & Partners
• Digitalisation of corporate procedures
NautaDutilh Avocats Luxembourg S.à r.l.
• Luxembourg – A pre-merger control regime is on the way
AKD
• Introduction of a foreign direct investment screening mechanism
Molitor Avocats à la Cour
• A NEW LAW TO RULE NON-PROFIT ASSOCIATION
Ogier
• Foreign direct investment in Luxembourg: structuring the equity
PwC Legal
• Luxembourg Company Law Enters the Digital Age
DATA PROTECTION:
Molitor Avocats à la Cour
• AI ACT AND GDPR: MANAGING THE WORLD OF DATA IN THE WORLD OF PRIVACY
EMPLOYMENT
Allen & Overy
• Hiring third-country nationals in Luxembourg: the new law of 7 August 2023 in a nutshell
Baker & McKenzie Luxembourg
• New leave for employees and new measures to ensure better work-life balance introduced
Bonn Steichen & Partners
• New provisions in favor of highly qualified third-country workers
Kleyr Grasso
• Publication of the date for staff delegation elections!
• Wage indexation on 1 September 2023: new amounts
ESG:
Elvinger Hoss Prussen
• The European Commission consults on sweeping changes to SFDR
Molitor Avocats à la Cour
• WHO SAYS FASHION CAN’T BE SUSTAINABLE?
DLA Piper
• Law of 7 August 2023 on non-profit associations and foundations (as consolidated on 23 September 2023)
FINANCIAL REGULATIONS:
Simmons & Simmons Luxembourg LLP
• Newsflash – CSSF Circular 23/840
• FATF’s Comprehensive Evaluation of Luxembourg’s Financial Systems
• Revised AML guidelines from the EBA
Allen & Overy
• Regulatory monitoring – Newsletter September 2023
INVESTMENT FUNDS:
AKD
• ELTIFs 2.0: unlocking the door to brighter investment horizons in 11 steps
• Alternative Investment Funds Industry Quarterly Update Q3 2023
Pinsent Masons Luxembourg
• The CSSF’s review of the industry’s compliance with ESMA’s marketing guidelines
DLA Piper
• LP-led Secondaries: Trends, opportunities and key considerations
LITIGATION:
DLA Piper
• Useful civil law concepts to understand the assignment rules in the Luxembourg contractual business practice
REAL ESTATE:
DSM Avocats à la cour
• Responses to parliamentary questions on completion guarantees
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Best regards,
BCC Secretariat
