BCC Tax & Legal Newsletter 2024 #3

By BCC Secretariat, May 27 2024
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BCC TAX & LEGAL NEWSLETTER 2024 #3

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 is March to April 2024. 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

DELOITTE:
•   Pillar Two— Enhanced clarification on tax disclosure requirements
•   New developments regarding the VAT exemption for funds

EY: 
•   Luxembourg tax administration publishes FAQs on Pillar Two clarifying disclosure requirements for deferred taxes

PwC: 
•   European Parliament approves directive for Faster and Safer Relief of Excess Withholding Taxes (2023/0187)
•   New Pillar II rules – Impact on the financial statements as from 2023
•   The Transfer Pricing in Finance Revolution
•   Insights into Insurance and Asset Management: Exploring Pillar 2 Perspective

Legal Newsletter

CAPITAL MARKETS:

AKD
•    High-Yield Debt in Luxembourg 2024

CORPORATE AND M&A:

DLA Piper
•    Confidentiality duty: To disclose, or not to disclose, that is the question

ESG:

DSM Avocats à la cour
•    “Overview of the environmental laws impacting retail business”

Elvinger Hoss Prussen 
•    Luxembourg’s new bill of law transposing CSRD submitted to Parliament

E-SIGNATURES:

DSM Avocats à la cour
•    Understanding electronic signatures

INSURANCE:

A&O Shearman
•    The impact of the law dated 29 March 2024 on outsourcing arrangements in the (re)insurance sector

INVESTMENT FUNDS:

A&O Shearman
•    RC AML/CFT report for 2023: submission deadlines published for Luxembourg regulated funds, IFMs and RAIFs
•    AIFMD II: Unveiling the timeline for the new loan origination regime

Baker & Mckenzie
•    European Union: Alternative Investment Fund Managers Directive II is out

Bonn Steichen & Partners
•    EU UCITS deemed “equivalent” for UK’s overseas investment funds regime

DLA Piper
•    New AIFMD 2 and UCITS rules on delegation, liquidity risk management, depository and custody services and loan origination
•    Offering co-investments opportunities: An investment funds trend on the rise

Elvinger Hoss Prussen
•    CSSF Circular 24/847 on ICT-related incident reporting framework: Clock is ticking for Luxembourg investment funds and fund managers
•    Key takeaways from CSSF Circular 24/856 on the protection of investors and replacing CSSF Circular 02/77

NautaDutilh Avocats Luxembourg 
•    AIFMD II enters into force – the implementation period has started

Pinsent Mason Luxembourg
•    ‘T+1’ settlement ‘event risk’ looming as calls grow for coordinated European approach

Simmons & Simmons Luxembourg 
•    CSSF’s supervisory priorities in the area of sustainable finance

Vandenbulke
•    Liquidity management tools: new rules for open-ended alternative investment funds

REAL ESTATE:

DSM Avocats à la cour
•    Luxembourg: Recent legal developments in Real Estate

RESTRUCTURING AND INSOLVENCY:

Baker & Mckenzie
•    Luxembourg: Opening of a judicial reorganization procedure, any risk of abuse?

Bonn Steichen & Partners
•    Luxembourg Law of 7 August 2023 on business continuation and modernisation of Bankruptcy Law | Recent case law developments

Clifford Chance
•    Aggregate Group restructuring – Further hearing to consider amended plan scheduled later this week

WHITE COLLAR AND BUSINESS CRIME:

Bonn Steichen & Partners
•    ECJ’S yellow card to FIFA and UEFA

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Best regards,

BCC Secretariat

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