On 19 May 2019, the Swiss corporate tax reform package TRAF (Tax Reform and AHV Financing) was approved by referendum.
On 25 April 2019, the Luxembourg Parliament approved the budget law for 2019, which has been filed by the Luxembourg Government with the Luxembourg Parliament as bill n°7450 (the ‘2019 Budget Law’). The 2019 Budget Law will be applicable from 1 May 2019, with some provisions applicable from 1 January 2019.
The CSSF amends CSSF circular 14/593 to reflect the fact that credit institutions now have the possibility to send TEST reporting files
As we mentioned in our January and March newsletters, Luxembourg has implemented a so-called Register of Beneficial Owners (“RBO”), which went into effect 1 March 2019.
On 25 January 2019, Bill No 7402 (the "Bill") implementing Directive (EU) 2017/828 as regards the encouragement of long-term shareholder engagement (the Shareholder Rights Directive II or SRD II) was introduced.
The law dated 12 April 2019 implementing a legal framework for the implementation of a time savings account (TSA) has been published in the Memorial on 24 April (the Law).
On 30 April 2019, the ECJ confirmed that the investment court system (ICS) created by the free trade agreement between the EU and Canada (CETA) is in line with EU law. This decision paves the way for further ratifications of CETA by EU member states.
Lorsqu’il décide de licencier, l’employeur doit convoquer le salarié à un entretien préalable dans les entreprises de plus de 150 salariés. A l’issue de ce dernier, l’employeur peut toujours choisir de garder son salarié.
Amongst the set of new tax measures, the law provides for the reduction of the corporate income tax rate and the optional application of the new interest limitation rules at the level of fiscal groups.
The United Kingdom's planned exit from the European Union would result in it losing the fundamental freedoms guaranteed by the Treaty on the Functioning of the European Union and its status as an EEA third country.
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