Did you know: the CSSF simplified IT outsourcing

Cloud-based services, stronger governance and data protection are just some of the new provisions meant to simplify IT outsourcing for regulated entities. The Commission de Surveillance du Secteur Financier (CSSF) Circulars published in May could change the design of financial institutions’ operational processes in Luxembourg. More support for cloud-based services …

Did you know: Common Reporting Standard deadline is fast approaching

Governments across the world are increasingly putting tax transparency at the top of their agenda. In this context, the OECD developed the Common Reporting Standard (CRS) as a global reporting standard to achieve a complete and multilateral automatic exchange of information framework. The Luxembourg CRS first reporting is due on …

[VIDEO] Luxembourg cost-sharing exemptions in danger

The European Court of Justice has recently ruled that Luxembourg’s legislation on the cost-sharing exemption has been transposed too widely. This VAT exemption is widely used by the country’s financial services industry. And the impact of this decision for bankers, assurers and asset managers would likely to be severe. Frédéric Wersand, …