On 13 May 2014, the Luxembourg parliament approved Bill 6556, which amends the tax law concerning exit tax. The provisions concerning exit tax prior to the approved changes were considered non-compliant with EU law. Under the prior provisions, when an company migrates out of Luxembourg, the entity is considered liquidated and deemed to realize all its assets and liabilities at fair market value This results in immediate taxation of unrealized capital gains and losses, including foreign exchange gains and losses. Under the changes, when a company migrates from Luxembourg to another European Economic Area (EEA) Member State, they can defer...