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Luxembourg Revising Draft Bill to Implement EU Directive on Reportable Cross-Border Arrangements to Address Professional Secrecy Concerns

20 February 2020

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Proposed Changes

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Luxembourg

The Luxembourg parliament is reportedly finalizing revisions to the draft bill first submitted in August 2019 for the implementation of Council Directive (EU) 2018/822 of 25 May 2018 (DAC6) on reportable cross-border tax planning arrangements. This includes measures to require the reporting of cross-border tax planning arrangements and the exchange of information reported with other EU Member States. The revisions are being made are to address concerns expressed by the Council of State, including concerns with professional secrecy issues. Under the original draft of the bill, intermediaries would have generic reporting obligations that include disclosing information that the Council of...