Luxembourg Administration of Direct Tax has updated its Country-by-Country (CbC) reporting guidance page, which includes an updated CbC reporting FAQ. One of the main updates in the FAQ concerns the application of CbC reporting in relation to investment funds. This includes when an investment fund is composed of compartments or sub-funds, only the fund (umbrella) is considered as a constituent entity of the MNE Group. It is therefore not necessary to file notifications for each compartment or sub-fund or to indicate the identity of these compartments or sub-funds in the declarations.