Are you ready to go beyond?

Grant Thornton Luxembourg welcomes you to the November Data Protection Newsletter! This month, we highlight key developments in data protection, AI, and tech regulation, including updates on the European Commission GDPR and AI Act amendment proposal, a potential new GDPR adequacy decision, and important news for LinkedIn users regarding AI training. Whether you are managing compliance or simply aiming to stay safer and better informed online, this newsletter is for you. As always, our Data Protection Team is here to help. If you would like tailored advice or to discuss a specific issue, please contact us using the details at the end of this page.

Following the legislative elections in October 2023, the Luxembourg government unveiled its 2023–2028 coalition agreement, outlining initiatives to enhance the country’s economic competitiveness. The agreement places particular emphasis on the financial sector, with key tax reforms designed to foster sustainable growth and reinforce Luxembourg’s status as a leading international financial center over the next five years.

The tax unity regime allows a group of Luxembourg companies to be taxed as a single taxpayer on a consolidated basis. This regime enables the offsetting of profits and losses among group members, potentially reducing the group’s overall tax burden.

The CSSF has recently reiterated a key message for all supervised entities: if a major ICT-related incident occurs, it must be reported—promptly and without exception.