Grant Thornton Luxembourg May Data Protection Newsletter - We share clear and practical insights on the latest developments in data protection, AI, and tech regulation, helping you stay informed and compliant in this ever-changing digital landscape. Whether you manage compliance or simply want to stay safer and better informed online, this newsletter is for you.
INFPC 2025 Co-funding: Don't miss out on government support for your training plans! The deadline for 2025 co-funding applications is 31 May 2026. The Luxembourg government offers financial aid to support your company's training efforts. Our HR consulting team is here to support you every step of the way.
Take control of your tax obligations and discover new opportunities. Thanks to our innovative tool, adapt your Tax Calendar 2026 to your needs and meet your tax deadlines efficiently with Grant Thornton Luxembourg.
The Grand-Ducal Decree of 18 April 2024 modified the lists of Participating Jurisdictions and Reporting Jurisdictions for the CRS reporting year 2023.
Don't let the stress of tax returns overwhelm you. Leave your duties to us and enjoy the peace of mind you and your employees deserve.
La loi entrée en vigueur le 23 septembre 2023 modifie les dispositions de la loi du 21 avril 1928 - avec une période transitoire de 24 mois pour les associations sans but lucratif (a.s.b.l.), les associations reconnues d'utilité publique et les fondations.
Are you ready to take control of your compliance process like never before? Look no further than our cutting-edge DORA tool - the ultimate solution designed to empower you every step of the way.
Amidst the global challenges posed by climate change, financial institutions and regulatory bodies are progressively acknowledging the significance of incorporating sustainability principles into their operations. Considering this mounting necessity, the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg has recently revised its supervisory focus on sustainable finance. This move underscores the CSSF’s dedication to fostering a financial sector that is both environmentally conscious and socially responsible. It builds upon their earlier communication of priorities in April 2023
Following the transposition into Luxembourg national law of the EU Directive 2022/2523 (the "Pillar 2 Law"), multinational enterprise (MNE) groups and significant large domestic groups are required to pay a minimum tax level of 15%. The Pillar 2 law came into effect for fiscal years starting on or after 31 December 2023.
As the deadline for compliance with Circular CSSF 24/847 on ICT-related incident reporting framework rapidly approaches, financial institutions are facing mounting pressure to ensure their systems are up to standard. With the 1st of April deadline just around the corner, it's imperative for organisations to act swiftly to avoid potential penalties and reputational damage.
Grant Thornton Women in Business report celebrates 20 years of insights. In recognition of International Women’s Day, Grant Thornton has launched its International Women in Business report, which reports on actionable steps for businesses to take towards achieving gender parity.
Adjustment of tax brackets and tax credits - The legislator has adjusted the income tax scale by 4 indexed brackets, with effect from 1st January 2024. This will result in tax reduction for all taxpayers.
It's been five years since the last elections! The next social elections for companies with more than 15 employees will take place on 12 March 2024. While the process is set out in detail in a draft ministerial decree, it's important to remember that there are a lot of things that need to be done, requiring resources, time, and technical skills.
Recent decisions rendered by the Court of Justice of the European Union (“CJEU”) seem to have put an end to investigations of the European Commission (“EC”) into tax measures of the Member States based on the state aid rules. In particular, certain tax rulings granted by the Luxembourg tax authority (“LTA”) to Fiat, Engie and Amazon groups have been characterised by the EC in the past as conveying illegal selective tax advantages. Ultimately, CJEU decisions rendered in these cases found the tax rulings not to constitute unlawful state aid.
Circular CSSF 24/847 introduces a comprehensive framework for reporting ICT-related incidents in the financial sector. The aim is to gain a more detailed understanding of the nature, frequency, significance, and impact of such incidents within the context of a highly interconnected global financial system. The circular addresses the evolving ICT and security risks by expanding the incident coverage and introducing a structured reporting mechanism.
On 20 December 2023, draft law no. 8292 (“Draft Law”), transposing the EU Council Directive 2022/2523 of 14 December 2022 (“Pillar Two Directive”) into Luxembourg national law, was adopted by the Luxembourg Parliament (the “Law”). The Law aims to ensure that multinational enterprise (“MNE”) groups and significant large domestic groups pay a minimum level of tax of 15%. It incorporates amendments proposed by the Luxembourg Government in November 2023 in order to be aligned with administrative guidance issued by the OECD.
On 22 December, the Administration de l’enregistrement, des domaines et de la TVA (“AEDT”) has issued circular no 781-1 on VAT on directors’ fees.
Grant Thornton Advisory, alongside 12 fellow European Grant Thornton member firms is carrying out a survey to identify key trends about the DPO (Data Protection Officer) function in Europe.
Following the CJEU’s decision C-288/19, “QM” of January 20th, 2021, the VAT treatment of company cars granted by a company to its employees should be modified for most cases applied by Luxembourg companies. Following this “QM” case-law, in the event where a company provides company cars to its employees, and provided the below conditions are met, this supply corresponds to a VAT taxable activity on which VAT must be collected by the company and accordingly declared to the VAT Authorities