Luxembourg

Fighting cybercriminals with the updated SWIFT CSP

In recent years, sophisticated cybercriminals have managed to compromise several banks’ computer networks, learn their payment processes, and gain access to the relevant IT credentials—ultimately being able to send fraudulent payment instructions over the SWIFT financial messaging network. The worst case so far was in 2016, when thieves successfully stole […]

All about Luxembourg’s new intellectual property regime

Luxembourg has recently enacted a new intellectual property (IP) regime in line with the OECD recommendations for more tax transparency, and in June an administrative circular was issued to help clarify this regime. The new IP regime aims to promote R&D activities largely performed in Luxembourg and offers, to Luxembourg taxpayers, an 80% tax exemption on el […]

Mandatory Disclosure Rules: five key questions for insurers

The Mandatory Disclosure Rules (MDR) arose from the ambitious anti-tax avoidance project on Base Erosion and Profit Shifting (BEPS) that the OECD launched in 2015. The MDR Directive, also known as DAC 6, is the latest EU initiative regarding the automatic exchange of tax information. Aimed at identifying harmful tax practices and further increasing tax transp […]

Transfer pricing in Luxembourg: what to consider when restructuring

This article was prepared together with Khyati Joneja. Business restructurings are normally associated with a transfer of functions, risks, or assets between the entities of a group—and that means transfer pricing consequences. The restructured group entity is usually entitled to an (arm’s-length) compensation, the assessment of which requires the use tra […]

The M&A trends driving Luxembourg’s banking sector

This article was written together with Krasen Monovski. The banking market in Luxembourg has recently seen a surge in deal activity, with a multitude of strategies employed by buyers and sellers alike. While this industry is robust and well-positioned for growth, there is nevertheless significant pressure on firms to improve profitability and innovate service […]

Cooperation in space: US and Luxembourg sign MOU

This article was written together with Alina Vasiurenko. On 10 May 2019, the Grand Duchy of Luxembourg and the United States of America signed a Memorandum of Understanding (MOU) to strengthen cooperation in the field of space-related activities and associated commercial opportunities. US Secretary of Commerce Wilbur Ross came to Luxembourg to attend t […]