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Luxembourg submits draft legislation introducing public country-by-country reporting for multinational enterprises

|Tax Alerts, Legislation & Policy, National/Federal Taxation, Transfer Pricing|Luxembourg, European Union
Luxembourg, European Union

  • The Luxembourg Government recently transmitted draft legislation to implement the European Union (EU) public country-by-country reporting (CbCR) Directive (the Directive) to Parliament.

  • The new reporting obligations will apply to financial years starting on or after 22 June 2024.

  • Luxembourg opted to allow in-scope groups to (1) defer, in certain cases, the disclosure of commercially sensitive information for up to five years and (2) exempt, under certain conditions, undertakings from the obligatio…

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