LuxCMA – Luxembourg Capital Markets Association
Our technical position paper, which was accessible to our LuxCMA members only, is now available to everyone! Congratulations again to our Direct Tax Working Group (previously #Securitisation & #ATAD Task Force) for the release on 26/10/2020 of the impressive technical position paper on #deductibility of payments by securitization companies financed by debt.
On 11 June 2020, LuxCMA, the Luxembourg Capital Markets Association, held its first Annual General Assembly virtually.
On 14 May 2020, the European Commission announced that it decided to send a letter of formal notice to Luxembourg asking it to correctly transpose the interest limitation rule of the Anti-Tax Avoidance Directive (Article 4 of the Council Directive (EU) 2016/1164). Under current Luxembourg law, securitization companies covered by Regulation (EU) 2017/2042 of 12 December 2017 (EU Securitization Regulation) are excluded from the scope of the interest limitation rules. If Luxembourg does not act within the next four months, the European Commission may send a reasoned opinion to the Luxembourg authorities.
LuxCMA sums up some of the main changes under the new prospectus regime applicable as from 21 July 2019.
LuxCMA, constituted on 1 March 2019, is as a not-for-profit association (a.s.b.l.). The association`s offices are located at the Luxembourg House of Financial Technology (L.H.o.F.T.).