News and developments

Press Releases

Country-by-country reporting (CBCR) implementation in Luxembourg

29/12/2016 ​On 13 December 2016, to ensure compliance with the BEPS Action Plan, the Luxembourg Parliament adopted bill of law No. 7031 (CBCR Law) implementing Council Directive (EU) 2016/881 of 25 May 2016 (DAC IV) as regards mandatory automatic exchange of information in the field of taxation and introducing new reporting obligations for multinational companies. Based on the information attached, you should be able to assess the impact of the new legislation on your group companies by:
28 October 2019
Press Releases

Perfection of the New Market Abuse Regime in Luxembourg

13/12/2016 Today, the Luxembourg Parliament enacted the law (the “New Market Abuse Law”) implementing Directive 2014/57/EU of the European Parliament and of the Council of 16 April 2014 on criminal sanctions for market abuse (market abuse directive), also known as the “Market Abuse Criminal Sanctions Directive” (“Directive 2014/57/EU”) and Commission Implementing Directive (EU) 2015/2392 of 17 December 2015 on Regulation (EU) No 596/2014 of the European Parliament and of the Council as regards reporting to competent authorities of actual or potential infringements of that Regulation (“Directive (EU) 2015/2392”). With the transposition of Directive 2014/57/EU and Directive (EU) 2015/2392, Luxembourg has ensured the effective implementation of the new market abuse regime deriving from Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (the “Market Abuse Regulation”) and its related implementing and delegated regulations, which had already entered into force on 3 July 2016.
28 October 2019
Press Releases

OECD adopts multilateral convention to implement BEPS measures

2/12/2016 On 24 November 2016, the Organisation for Economic Cooperation and Development (“OECD”) adopted the multilateral convention composed of the multilateral instrument (“MLI”) and explanatory statements (“ES”). The implementation of the MLI could result in significant changes to the bilateral tax treaties concluded by Luxembourg and may affect amongst other the tax treaty access of tax transparent entities. Unfortunately the MLI does not address the tax treaty access of collective investment funds and uncertainty remains in this respect.
28 October 2019
Arendt & Medernach