With the COVID-19 pandemic coming to an end, agreements regarding taxation and social security legislation for cross-border workers who telework from Germany, Belgium and France will not extend past 30 June 2022.
On 16 March 2022, the Luxembourg Parliament adopted a draft bill amending the Luxembourg Labor Code to involve staff delegations when introducing or modifying a specific telework scheme at a company level.
Welcome to our first quarter issue of the Private Wealth Newsletter. Our featured insight for this issue is a discussion of the passage of the Corporate Transparency Act by the United States to introduce federally-mandated beneficial ownership reporting obligations for US corporations and limited liability companies. We also include insights…
In brief On 31 December 2020, the National Commission for Data Protection (CNPD) published a statement on the applicability of Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the…
On 14 October 2020, Luxembourg announced new provisions with respect to incentive for highly skilled and qualified workers (“Impatriate Regime”) as part of the 2021 budget bill (“Law”).1
The Impatriate Regime was introduced back in 20112 and was further amended by several circulars, including the most recent Circular LIR No. 95/2 dated 27 January 2014 (“Circular”) which have been repealed in the meantime. The government has now decided to codify the Impatriate Regime under Article 115(13) b. of the Luxembourg income tax law (LITL) and to introduce some limited changes.
The aim of Article 115(13) b. of the LITL remains close to the original objective of the Circular, which was to further enhance the competitiveness of Luxembourg by enabling Luxembourg employers to hire new talent from abroad. The changes introduced by the Law should further simplify the procedure, strengthening the clear intention of Luxembourg to remain attractive from an economic perspective.
Below we describe the regime that will be applicable as from 1 January 2021 while highlighting the main changes compared to the former rules.