Luxembourg has published a Grand-Ducal Regulation that provides the functional currency rules for the application of Pillar 2 global minimum tax rules introduced by the Law of 22 December 2023. This includes that the ultimate parent entity's functional accounting currency must be used for most calculations. An exception exists when the option outlined in Article 14(3) of the Law of 22 December 2023 is applied for a qualified national supplementary tax in a specific jurisdiction. In such case…