UPDATE: Modernization of Luxembourg Fund Laws – entry into force on 28 July 2023 The Bill of law No. 8183 of 24 March 2023 which provides for the modernization of five Luxembourg fund laws (“Bill of Law”), has been adopted by the Luxembourg Parliament on 11 July 2023 and has been published in the Luxembourg …
ESMA Opinion on Undue Costs CSSF SAQ and How They Result in Additional Documentation Requirements for AIFMs On 17 May 2023, ESMA published its Opinion on undue costs of UCITS and AIFs (the “Opinion”).[1] The Opinion is the result of a common supervisory action (CSA) with national competent authorities (NCAs) launched by ESMA in January …
On 27 July 2020, Luxembourg has published a law amending the reporting deadline regarding cross-border tax arrangements in Mémorial A No. 638. Therefore, the following reporting deadlines apply in Luxembourg: If the first step of an arrangement was implemented between 25 June 2018 and 30 June 2020, reporting can be made by 28 February 2021. If the first step of …
On 19 June 2020, we informed you about the decision of the European Council to allow EU Member States to extend the reporting period for cross-border tax arrangements as defined in the DAC 6 Directive by up to six months. The following extensions of the reporting deadline have been proposed: If the first step of an …
Commission proposes postponement of taxation rules due to Coronavirus crisis On 14 May 2020, we already informed about a proposal by the European Commission to postpone the original deadline for DAC 6 notification due to the restrictions during the COVID-19 pandemic. The Luxembourg Ministry of Finance endorsed this proposal in a publication of 4 June …
UPDATE : European Union postpones deadline for “DAC 6” Read More »
News radar: On 21 March 2020, the Luxembourg Parliament discussed and voted in favor of the bill implementing the DAC 6 Regulation in national law which was last amended by bill no 749510. The amended and now implemented bill (bill no 74959) extends the exemptions from the reporting obligations to expert-comptables, auditors, and lawyers and also …
AIQUNITED is providing information on a decision of the Luxemburg Commercial Court to submit questions in relation to Art. 15, Section 1 of the RBO Law to the European Court of Justice (“ECJ”). Art. 15 of the RBO Law restricts access to the Register of Beneficial Owners (the “RBO”) to public authorities, notaries and financial …
On 25 November 2019, the CSSF published its FAQs titled Persons involved in AML/CFT for a Luxembourg Investment Fund or Investment Fund Manager supervised by the CSSF for AML/CFT purposes (hereinafter referred to as the “FAQs”). The FAQs remind the management and supervisory bodies of Luxembourg investment funds , AIFMs, and UCITS management companies regulated …
RR and RC at the Crossroads Between Company Law and AIFMD Read More »
ATAD II – Planned Implementation in Germany Leads to Confusion and Significant Consequences for the Fund Industry On 10 December 2019, the German Federal Ministry of Finance (“BMF”) adopted a draft law on the implementation of the Anti-Tax Avoidance Directive of 12 July 2016 (“ATAD I”) and its successor of May 29 2017 (“ATAD II”)[1] …
