Legal news

European Parliament Adopts Data Protection Package – 14 April 2016

On Wednesday, 14 April 2016, the European Parliament adopted the Data Protection Package, which includes: - the Personal Data Protection Regulation with direct and uniform effect in the 28 Member States. The Regulation will enter into force 20 days after its publication in the Official Journal of the European Union. Its provisions will be directly applicable in all Member States 2 years after that date. - a directive on the transfer of data for policing and judicial purposes. The directive will apply to the transfer of data across EU borders and will set the minimum standards for data processing for ...
April 17th, 2016| Legal news

E-commerce Merchants Now Required to Insert Link to European Online Dispute Resolution Platform

The European Parliament and Council adopted the following two instruments to support European consumers in case of cross-border disputes, linked to the desire to promote out-of-court settlements of their disputes: Directive 2013/11/EU of the European Parliament and of the Council of 21 May 2013 on alternative dispute resolution for consumer disputes (“consumer ADR”) and amending Regulation (CE) No. 2006/2004 and Directive 2009/22/EC (the “Directive”), and Regulation (EU) 524/2013 of the European Parliament and of the Council of 21 May 2013 on online resolution of consumer disputes (“consumer ODR”) and amending Regulation (CE) No. 2006/2004 and Directive 2009/22/EC (the “Regulation”). Applicable since ...
April 12th, 2016| Legal news

European Commission Publishes First Version of “Privacy Shield” Framework

Expected since the invalidation of the Safe Harbor legal framework after the ECJ’s 6 October 2015  Schrems decision, the European Commission published on 29 February 2016, the texts that should make up the EU-U.S. Privacy Shield, negotiated with the American authorities in the context of the transfer of personal data to the United States and in the interest of re-establishing trust in the transfer procedures. The Commission made public its draft "adequacy decision" defining the "privacy principles" with which American companies must comply. The text has seven annexes covering the commitments of the American Department of Commerce and the Federal Trade ...
March 14th, 2016| Legal news

Privacy Shield Agreement Between United States and European Union

Privacy Shield Agreement Between United States and European Union The United States and European Union have just reached a "Privacy Shield" agreement following a phase of negotiations during the continued effect of the Court of Justice of the European Union’s decision in the Schrems case. In a 2 February press release, the European Commission announced having reached an agreement with the United States based on the following three factors related to the protection of the rights of EU citizens in the context of the transfer of their data to the United States, namely reinforcement of the:  obligations and commitments incumbent ...
February 5th, 2016| Legal news

Intellectual Property and Taxation: Tax exemption up to 80% of intellectual property income maintained under certain conditions until 30 June 2021

The Law of 18 December 2015 concerning the Luxembourg government’s 2016 income and expenditure budget significantly amends Luxembourg’s intellectual property tax regime because starting 1 July 2016, Article 50bis of the Law of 4 December 1967 on income taxation (the “LIR”), as amended, will be repealed. Until now, Luxembourg’s legislation allowed exemption of up to 80% of intellectual property income. The LIR was amended in the context of the OECD’s adoption of the "Modified Nexus Approach", pursuant to the OECD/G20 Base Erosion and Profit Shifting Project (BEPS), according to which OECD member countries had to review their tax regulation, particularly as ...
January 5th, 2016| Legal news

European Institutions reach an agreement on the General Data Protection Regulation

The European Parliament, Council and Commission just reached an agreement in principle on the content of the General Data Protection Regulation. The regulation, with direct effect, will repeal the former regulation which was a product of Directive 95/46/CE. The new rules, which will apply on 1 January 2018, will allow all data subjects to better control their personal data. All data controllers must thus provide in advance of any data collection the technical information and practices to any data subject (for example, contact information of the entity responsible for the processing, modalities to exercise the right to erasure and length ...
December 18th, 2015| Legal news

Moving towards being digitally forgotten (right of erasure)

Already on 14 May 2013, at the request of a subsidiary of a Luxembourg group, Germany’s highest civil court, the Bundesgerichtshof, ordered Google to erase certain false and defamatory events from the list of results appearing after a search was made on the name of that corporate group’s president. Now, decision No. C-131/12 of 13 May 2014, in Google Spain SL, Google Inc. v. Agencia Española de Protección de Datos (AEPD), Mario Costeja González, the Court of Justice of the European Union ("CJEU") has upheld and added specifics to that solution. In the latter decision, the CJEU confirms that a ...
June 11th, 2014| Legal news

Compliance with the new Alternative Investment Fund Manager (“AIFM”) regime

By virtue of the Law of 12 July 2013, the law on the new AIFM regime, DSM has set up an internal use tool to systematically ensure that it complies with the new AIFM regulation with respect to its current and future clients.
May 14th, 2014| Legal news

2014 and 2015: FATCA Transition period

After much lobbying by the financial industry, the IRS has determined that 2014 and 2015 will be a “transition period” for implementing FATCA. Foreign financial institutions that are deemed to be making “good faith efforts” to comply with FATCA will not be penalised during the transition period. The full text of the IRS Notice 2014-33 is in the link below:
May 14th, 2014| Legal news

Les nouvelles règles en matière du droit de la concurrence La loi du 4 mai 2004 relative à la concurrence

Tax Today, Kluwer, July 2004
March 11th, 2004| Legal news

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