On 19 December 2024, the Luxembourg Parliament approved a legislative proposal that will amend the law dated 22 December 2023 (Pillar Two Law).While there are still some formal legal steps that need to be taken before the proposals become law, these steps are expected to occur before year-end. Executive summaryOn 19 December 2024, the Luxembourg Parliament adopted legislation amending the Pillar Two Law.1 The new legislation aims to incorporate, with effect for financial years starting from 31 December 2023, clarifications and additional provisions of the Organisation for Economic Co-operation and Development (OECD) Guidance issued in February 2023, July 2023, December 2023...