Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and primary European fund domiciles - October 2016 - Issue 8: Luxembourg

Dechert LLP

Dechert LLP

CSSF Newsletter – August 2016

The CSSF published its September 2016 newsletter (number 188), which provides updates in relation to recent national regulation and statistics.

The newsletter is available on the CSSF website (in French).

CSSF Press Release - 14 September 2016

The CSSF assesses the profit (before provisions) of the Luxembourg banking sector at EUR 3,040 million for the first half of 2016, an increase of 1.5% compared to last year’s results.

This communiqué is available on the CSSF website.

ALFI's 2015 - 2016 Annual Report

ALFI published its 2015-2016 annual report. This is currently available only in French.

ALFI Supports MEPs’ Calls for Postponement of PRIIPs Regulation

ALFI’s press release dated 16 September 2016 is currently available in French.

Luxembourg VAT authorities: Circular on VAT Treatment of Director Services

The Luxembourg VAT authorities published Circular n° 781 on 30 September 2016 regarding the VAT treatment of director services and a comprehensive list of “frequently asked questions”. The Circular confirms that director services constitute an economic activity, leading to the status of taxable person for VAT purposes.

Read the circular and questions here (in French).

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