The Arendt Weekly Update is a newsletter designed to give you the insight you need without overloading your mailbox. It lists the latest news, topical webinars, training courses and more. NEWSFLASHES Budget 2021: various tax measures to address the impact of the COVID-19 pandemic and support a sustainable recovery On 14 October 2020, the Luxembourg government filed the budget bill 7666 with the Luxembourg parliament ...
The Arendt Weekly Update is a newsletter designed to give you the insight you need without overloading your mailbox. It lists the latest news, topical webinars, training courses and more ...
THE LAW OF 23 SEPTEMBER 2020 REGARDING MEASURES GOVERNING HOW COMPANIES AND OTHER LEGAL ENTITIES ARE PERMITTED TO HOLD MEETINGS HAS BEEN PUBLISHED IN THE LUXEMBOURG OFFICIAL JOURNAL. This law enables companies and other legal entities (such as ASBLs) to hold general meetings and other meetings of the company’s corporate bodies without the need for physical attendance, even where this is not provided for in the company’s articles of association ...
“At a time when the flow of information is always expanding, this app is a smart alternative for users to stay informed about these topics without a flood of emails.”(Jean-Marc Ueberecken, Managing Partner). The CoVid-19 crisis as a trigger Arendt Insights is the only app dedicated to Covid-19 crisis management in Luxembourg. The first version of the app has been designed to give insight from Arendt experts, using the Covid-19 Solutions platform ...
The government announced that as of 20th April 2020, masks (or alternative face protections) are mandatory when going outside (for authorised reasons only) when the required interpersonal minimum distance of 2 meters cannot be guaranteed. This measure is also applicable in the work environment. On 17th April 2020, a new grand-ducal regulation introducing a series of health and safety measures to fight against Covid-19 entered into force ...
The government announced that as of 20th April 2020, masks (or alternative face protections) are mandatory when going outside (for authorised reasons only) when the required interpersonal minimum distance of 2 meters cannot be guaranteed. This measure is also applicable in the work environment. On 17th April 2020, a new grand-ducal regulation introducing a series of health and safety measures to fight against Covid-19 entered into force ...
A dynamic platform, gathering answers to your most frequently asked questions in relation to the ongoing crisis. The content of this page will be continuously updated based on the latest news. Click here to access the Arendt Covid-19 Solutions Platform ...
On Saturday 21 March 2020, the Luxembourg Parliament passed a law implementing Council Directive (EU) 2018/822 of 25 May 2018 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements ...
Today, on the 27th March 2019, the bill of law 7399 amending articles L. 232-2 and L. 233-4 of the Labour Code as well as article 28-1 of the amended law of 16th April 1979 establishing the general status of public servants (hereinafter the "Law") was passed by the Luxembourg Chamber of Deputies. The leitmotif underpinning the Law is the same as that for the parental leave reform in 2016, namely enabling employees to achieve a greater balance between their private and professional lives ...
We would like to kindly remind you that from 7 January 2019 to 28 March 2019, the Financial Conduct Authority ("FCA") online system ‘Connect’ is open for EEA-based firms and fund managers of EEA-domiciled investment funds (UCITS and AIF) currently passported into the UK to notify the FCA about their intention to participate in the temporary permissions regime (“TPR”) ...
The most important corporate tax measures concern the reduction of the maximum corporate income tax (“CIT”) rate and the introduction of the option provided by the anti-tax avoidance directive (“ATAD”)[1]. This allows for the application of the interest limitation rules at the level of a fiscal unity: For the time being CIT is levied at a rate of (i) 15% in case the net profits do notexceed EUR 25,000 and (ii) 18% in case the net profits exceed EUR 30,000 ...
In this context, the judgements provide useful guidance on the concepts of abuse and beneficial ownership. Abuse concept According to the CJEU, it is settled case-law that there is, in EU law, a general legal principle that EU law cannot be relied on for abusive or fraudulent ends ...
In December of 2018, the coalition partners finalised their governing plan for the next 5 years in a coalition agreement (“Coalition Agreement”) which was signed the same day. The Coalition Agreement confirms the ambition, amongst others, to pursue a responsible, sustainable and innovative financial policy based on sound public finances ...
In December of 2018, EU Court of Justice Advocate General Campos Sánchez-Bordona concluded that the United Kingdom may unilaterally withdraw its intention to leave the European Union before 29 March 2019 and therefore remain in the EU. This is so long as the revocation notice is made before the formal conclusion of a withdrawal agreement and it respects the UK’s constitutional requirements ...
The enactment of EU Directive 2018/843 on the prevention of the use of the financial system for money laundering or terrorist financing (the "5th AML Directive") has prompted the Luxembourg government to accelerate the final implementation process of EU Directive 2015/849. This Directive prevents the use of the financial system for the purposes of money laundering or terrorist financing (the “4th AML Directive”) ...
Discover Luxembourg's space adventure and the challenges the space industry will face in the next decade. Arendt & Medernach, the leading law firm in Luxembourg, continuously supported the space and satellite industries and have developed the firm’s expertise and experience in these domains. We are now really looking forward to helping other businesses on their journeys into space ...
Earlier this week, the European Supervisory Authorities (ESAs) published draft amendments to EMIR-related regulatory technical standards (RTS) that align the treatment of variation margin (VM) for FX forwards with the supervisory guidance applicable in other key jurisdictions. More specifically the draft amendments propose that the requirement to exchange VM for physically settled FX forwards shall only target transactions between institutions (credit institutions and investment firms) ...
The draft laws implementing AMLD 4 set out strict rules to allow for protection against improper access to the information on BOs. At the of 2017, the Luxembourg Parliament published two draft laws to implement new transparency measures provided by Directive 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (“AMLD 4”) ...
With less than 30 days to go before the new MiFID II regime will be rolled out, funds and management companies/AIFM are increasingly concerned as to how they will be impacted: product governance inducements and payment for research increased client information requirements complex and non-complex products classification How will you be impacted by the new regime? We can help you to get ready! At Arendt, we have built up significant expertise in assisting clients
Earlier this year, and the last time before next year’s parliamentary elections, the current Luxembourg Finance Minister presented the budget law for 2018 to the Parliament (Chambre des Députés) ...
In the court Decision earlier this year for Barbulescu vs Romania, the Grand Chamber of the European Court of Human Rights (the “ECHR”) examined for the first time the issue of the monitoring of electronic communications of an employee by a private employer, within the framework of an action brought by Mr Barbulescu, an engineer employed by a private company in Romania ...
In less than 4 months the Priips-Kid regulation will come into force. The exercise of ensuring compliance with this regulation is not an easy one ...
Following the Luxembourg case C-274/15, the series of cases relating to the scope of the cost-sharing VAT exemption also referred to as “Independent Group of Persons” (“IGP”) continues with the release today of three judgements by the Court of Justice of the EU (“CJUE”): Aviva (C-605/15), DNB Banka (C-326/15) and European Commission v Federal Republic of Germany (C-616/15) ...
On 27 August 2017, the United Arab Emirates (the "UAE") published the text of its domestic Value Added Tax (the "VAT") Law, shortly after releasing the text of its Excise Tax Law last week, and the Federal Tax Procedures Law earlier this month. It will be followed by implementing regulations, which will provide more detail on application of the VAT Law.The UAE Government is still planning to introduce VAT on 1 January 2018 ...
Earlier this year, the President of the United Arab Emirates (the “UAE”) issued the new Tax Procedures Law (the “Law”). This Law contributes to build the UAE’s tax system, to regulate the administration and collection of taxes and most importantly, to clarify the respective rights and obligations between the Federal Tax Authority (the “FTA”) and the taxpayer ...
