Yesterday, a second draft law was released aiming at mitigating Brexit effects for the investment fund sector. It follows the first draft law on Brexit, which introduced among others a grand-fathering period of up to 21 months during which UK management companies of Luxembourg
On 5 March 2019, the finance bill n°7450 (“Finance Bill”) was filed by the Luxembourg government with the Luxembourg parliament.
On 5 March 2019 the Luxembourg government filed the new finance bill n° 7450 (“Finance Bill”) with the Luxembourg parliament.
On 31 January 2019, the bill of law n°7401 (the “Bill”) was issued on measures to be taken in relation to the financial sector in case of the withdrawal of the United Kingdom (“UK”) and North Ireland from the European Union (“EU”) (“Brexit”).
On 7 March 2019, the European Commission announced the opening of a formal State aid investigation into three tax rulings granted by the Luxembourg tax authorities to a Luxembourg entity of the Finnish Huhtamäki group.
On 5 March 2019 the Luxembourg government filed the new finance bill n° 7450 (“Finance Bill”) with the Luxembourg parliament
On 5 March 2019, the 2019 budget draft law was presented to Parliament.
The draft law introduces mainly the following corporate income tax measures with retroactive effect as from 1 January 2019:
On March 5th 2019, the Luxembourg Minister of Finance submitted to the Parliament the draft 2019 budget law (the "Budget"), which is expected to be approved by the end of April.
The law of 21 December 2018 implements the EU Anti-Tax Avoidance Directive (“ATAD”), the aim of ATAD being to implement the BEPS (Base Erosion and Profit Shifting) recommendations made by the OECD and the G20 in October 2015 at EU level.
On 5 March 2019, the government filed its 2019 budget bill of law. The proposed tax measures include a reduction of the corporate income tax rate and amendments to the fiscal unity regime.
