Draft legislation introduced in Luxembourg would modernize certain tax procedure rules pertaining to transfer pricing documentation and advance pricing arrangements (APAs).International standards require multinational enterprises to provide high-level information regarding their global business operations and transfer pricing policies in a master file and detailed transactional transfer pricing documentation in a local file.Requests for bilateral or multilateral APAs will have to include certain information on the entities involved and the envisaged transactions.Executive summaryThe Luxembourg Government recently submitted to Parliament draft legislation to introduce and modernize certain tax procedural rules, including by requiring taxpayers with related enterprises to provide, upon request, certain...