On 15 July 2020, the EU Commission published a directive proposal (the “DAC7 Proposal”), amending, for the 6th time, Directive 2011/16/EU on administrative cooperation (the “DAC”) in the field of taxation.
On 22 July 2020, the Luxembourg Parliament approved Bill No. 7625 (the “Law”) implementing Council Directive (EU) 2020/876 adopted on 24 June 2020 giving EU Member States the option to defer the deadlines for automatic exchanges of information under Directive 2014/107/EU
On 6 July 2020, the Luxembourg government issued bill of law N°7625 implementing into domestic law Council Directive (EU) 2020/876 of 24 June 2020, which amends Directive 2011/16/EU (“DAC 6”) to address the urgent need
Yesterday, the draft law implementing the optional deadline extensions of EU Directive of 24 June 2020 (the “Directive”) amending the EU Directive on Administrative Cooperation to address the urgent need to defer certain time limits for the filing and exchange of information in the field of taxation because of the COVID-19 pandemic was presented to Parliament
On 24 June 2020, the Council of the European Union (the Council) adopted an amendment to the Mandatory Disclosure Directive ((Directive (EU) 2018/855) the Directive) allowing EU Member States an option to defer by up to six months the time limits for the filing and exchange of the reportable arrangements.
On 14 May 2020, the CJ delivered its judgment in case B and Others v Administration des contributions directes (C-749/18). The Court concluded that the Luxembourg fiscal unity regime, which still now separates vertical and horizontal fiscal unities, is contrary to the freedom of establishment.
The proposed measures of the Draft Bill aim at bringing Luxembourg law into line with the evaluation of the Global Forum on Transparency and Exchange of Information for Tax Purposes.
Yesterday, the Luxembourg Finance Ministry reported that EU Member States have agreed on a compromise proposal for a Directive introducing an optional 6-month deadline extension for reporting under the mandatory disclosure regime applicable to tax intermediaries
On 14 May 2020, the Court of Justice of the European Union (“CJEU”) ruled on the Luxembourg tax consolidation regime and took a very positive decision for the Luxembourg corporate taxpayers.
Yesterday (15 May), the European Commission sent 2 letters of formal notice to Luxembourg relating to securitisation, one objecting to more heavy tax of foreign securitisation enterprises and another one asking Luxembourg to remove the ATAD interest rules “carve out” for EU regulated securitisation vehicles.
