On 13 April 2018, the Luxembourg Government introduced the bill of law n°7278 before the Parliament. This bill will implement the VAT group into Luxembourg VAT law with effect from 31 July 2018
Under the law of 10 May 2016 transposing UCITS Directive 2014/91/EU (UCITS V), it was originally expected that all undertakings for collective investment (UCIs) falling under the law of 17 December 2010 (the 2010 Law) would fall under the same depositary regime.
The Law is the result of the willingness of our legislator to define a new legal framework which is supposed to avoid dysfunctions resulting from speculative practices in the commercial real estate market.
On 10 January 2018, the Act creating the Data Protection Authority (the “Act”) was published in the Belgian State Gazette. This newsletter provides information about proceedings before the Inspectorate, the investigative branch of the Data Protection Authority (the "Authority") which has a wide range of powers to investigate complaints.
On 13 April 2018, the National Commission for Data Protection (CNPD) will organize new courses on the basics of data protection. These courses are aimed at those who wish to learn the basic elements of data protection law.
Sous l’influence du droit anglo-saxon, nous assistons depuis plusieurs années au développement exponentiel en droit luxembourgeois des conventions extrastatutaires (communément appelées conventions d’actionnaires ou pactes d’associés ou toute combinaison de ces termes). Destinées à régir les relations entre actionnaires/associés d’une société en complément de ses statuts, les principaux attraits de ces conventions d’actionnaires résident dans leur plus grande flexibilité et discrétion par rapports aux statuts.
Management rules and authority
- to provide in the Articles an authorised share capital mechanism;
- to delegate the daily management of the company to one or several day-to-day managers.
A draft law n°7184 establishing the National Commission for Data Protection and implementing the General Data Protection Regulation (GDPR) was published on September 12, 2017 (the “Draft Law”).
On 22 March 2018 the Luxembourg Parliament (Chambre des de?pute?s) adopted the new IP Box Law (see our newsflash “Tax changes for 2018 disclosed in the new budget bill” dated 13 October 2017, available at arendt.com/publications). The new IP Box Law replaces the previous IP Box regime which was repealed in 2016 with specific grandfathering provisions.
The CSSF provides in Press Release 18/02 that the eligibility criteria of such target UCI (“Target UCI”) under Article 50(1)(e) of the UCITS Directive should be assessed on the basis of the fund documentation.
