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Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Legal Developments Worldwide

Commercial cooperation amongst competitors: the Webtaxi decision of the Competition Council of 8 Jun

October 2018 - EU & Competition. Legal Developments by Arendt & Medernach.

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On 8 June, the Luxembourg Competition Council exempted an agreement between Benelux Taxis, Inter-Taxis and other tax companies who jointly use the Webtaxi reservation centre for taking bookings from customers

The fifth anti-money laundering and terrorist financing directive (AML 5) - Key aspects and changes

August 2018 - Finance. Legal Developments by Arendt & Medernach.

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On 19 April 2018, the European Parliament adopted the new directive on the prevention of the use of the financial system for the purposes of money laundering or terrorism financing.

5th AML Directive - Key aspects

August 2018 - Finance. Legal Developments by Arendt & Medernach.

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The 5th AML Directive was published in the Official Journal of the European Union on 19 June 2018, and will enter into force 20 days thereafter.

MiFID 2 and its distinctive Luxembourg features

August 2018 - Finance. Legal Developments by Arendt & Medernach.

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On 31 May 2018, the law on markets in financial instruments (the “2018 Law”) as well as the grand-ducal regulation relating to safeguarding of financial instruments and funds belonging to clients, product governance obligations and the rules applicable to the provision or reception of fees, commissions or any monetary or non-monetary benefits (the “Grand-Ducal Regulation”) were published in the Luxembourg official gazette.

New bills on ATAD implementation and MLI approval

August 2018 - Tax & Private Client. Legal Developments by Arendt & Medernach.

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On 15 June 2018 the Luxembourg government approved 2 new bills of law: ATAD Bill and MLI Bill

Unrestricted VAT deduction for active holding companies

August 2018 - Tax & Private Client. Legal Developments by Arendt & Medernach.

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On 5 July 2018, the Court of Justice of the European Union (“CJEU”) released a welcome decision in the Marle Participations case (C-320/17) concerning the deduction of input VAT by a holding company on costs incurred in relation to acquisitions and sales of shares in subsidiaries.

Tax update - The OECD releases the Base Erosion and Profit Shifting (BEPS) public discussion draft o

August 2018 - Tax & Private Client. Legal Developments by Arendt & Medernach.

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On 3 July 2018, the OECD launched a consultation on the transfer pricing of financial transactions by publishing the first draft of a new chapter of the OECD Transfer Pricing Guidelines for Tax Administrations and Multinational Enterprises

VAT group legislation voted

August 2018 - Tax & Private Client. Legal Developments by Arendt & Medernach.

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The bill of law n°7278 implementing the VAT group into Luxembourg law was voted on 26 July 2018 by the Chamber of Deputies.

Index increase

August 2018 - Employment. Legal Developments by Arendt & Medernach.

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In Luxembourg, wage indexation is an automatic mechanism for the adjustment of salaries to keep pace with evolving living costs. From 1 August 2018, the index applicable to employees' wages will climb.

New double tax treaty between France and Luxembourg: substantial impact on real estate investors

March 2018 - Real Estate & Property. Legal Developments by Arendt & Medernach.

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On 20 March 2018, the governments of France and Luxembourg signed a new double tax treaty (“New Treaty”) replacing the current treaty dated 1 April 1958 (“Old Treaty”). Although the New Treaty is based on the 2017 OECD Model Tax Convention, it contains certain substantial derogations therefrom.