On 22 March 2018, the Luxembourg parliament approved legislation in the first vote for the introduction of a new IP regime that is in line with the modified nexus approach developed as part of BEPS Action 5, and requested that an exemption from a second vote be allowed. The prior regime was abolished effective 1 July 2016 as it was not in compliance with the nexus approach. The legislation approved is generally in line with the initial draft. Main points include: The regime provides for an 80% corporate income tax exemption on qualifying net income derived from the commercialization of...