On 16 May 2022, the draft report on the proposal for a directive of the European Parliament and of the Council amending Directives 2011/61/EU on alternative investment fund managers (the AIFMD) and Directive 2009/65/EC on undertakings for collective investment in transferable securities (the UCITSD
Within the EU a widespread asymmetry exists between debt and equity financing. Usually, interest is tax deductible from the corporate income tax base while dividends do not benefit from such advantage
The EU Commission published its already much-debated DEBRA proposal on 11th May 2022, in her move to re-vamp again the tax environment in which corporate taxpayers try to navigate
On 16 May 2022, the Luxembourg financial regulator (the "CSSF") released Circular 22/811 on the authorisation and organisation of entities acting as UCI administrators (the "Circular")
On 12 May 2022, the CSSF published Circular 22/810 on the procedures to be followed by Luxembourg-based undertakings for collective investment in transferable securities (UCITS) and investment fund managers
The Commission de Surveillance du Secteur Financier issued a circular regarding the authorisation and organisation of entities acting as UCI administrator
On 11 May 2022, the EU Commission issued a draft directive proposing a debt-equity bias reduction allowance (the “DEBRA Proposal”). The DEBRA Proposal lays down rules (i) to provide, under certain conditions,
The EU is on course to secure new powers that will enable the Commission to review market-distorting subsidies from outside the block. The EC’s much debated proposal, published last year (see our reporting here), aims to fill a gap in the EC’s policy toolbox
On 11 May 2022, the European Commission published a Directive proposal to tackle the tax bias in favour of debt funding. The proposal includes both a notional deduction on growth in equity
On 27 April 2022, the CSSF published a guidance for consumers in the context of virtual assets (the “Guidance”). In the context of digital communication channels promoting the possibility of high returns with virtual assets (the “VAs”)
