Partner Mark Shaw wants to start with a summary of the legal and regulatory developments affecting the Luxembourg market coming from the CSSF.
In the context of the difficult evolving situation in connection to COVID-19, most companies are currently facing unprecedented legal issues within their organisations. As a result, they have to adapt significantly their way of working to go through this unique time in the best possible and efficient manner.
On 8 April 2020, Luxembourg Parliament released the draft law n°7555 addressing the extension of deadlines in fiscal, financial and budgetary matters in the context of the state of COVID-19 crisis
The European Commission adopted on 19 March 2020 the adapted Temporary Framework to allow Member States to grant more generous aid over a longer period until the end of December 2020.
On 30 March 2020, the Luxembourg government published a bill of law with number 7547 (the “Bill”) to deny the tax deductibility of interest and royalties paid or due to associated enterprises established in a country or territory listed on the EU list of non-cooperative countries and territories (“EU Blacklist”).
On 30 March 2020, the Luxembourg finance minister introduced a bill ("the bill") aimed at implementing European Union (EU) recommended preventive measures in respect of interest or royalties due or paid to related enterprises established in blacklisted countries
The distancing measures imposed to address the spread of Covid-19 are not only affecting our social relations but are also disrupting the way we are used to doing business. For instance, given that physical meetings can no longer be held to execute transaction documents, electronic signatures are widely being used instead.
On 2 April 2020, the Court of Justice of the European Union (“CJEU”) rendered a judgment (C-567/18) clarifying the potential liability of Amazon and other operators of online platforms for trade mark infringement.
In this unprecedented health crisis, many economic actors are facing the impossibility of fulfilling their contractual obligations or do not wish to honour them because they are no longer commercially viable.
On 30 March 2020, the Luxembourg government filed Bill of law No 7547 implementing certain guidelines approved by the EU Council on 5 December 2019 related to
the non-tax deductibility of interest and royalty payments made to entities located in jurisdictions appearing on the EU list of non-cooperative jurisdictions.
