On 21st August 2018, the law on the information to be obtained and held by fiduciary agents (the “2018 Law”) implementing part of Article 31 of EU Directive 2015/849 of 20th May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (the “4th AML Directive”) was published in the Luxembourg Gazette N° 702 on 21st August 2018. The 2018 Law had been adopted by Parliament on 26th July 2018 and will enter into force on 25th August 2018.
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From 1 April 2023, the index applicable to employee wages increases from 898.93 to 921.40. This leads to a mandatory 2.5% increase in the gross salary paid to employees with Luxembourg law employment contracts.