On 21 March 2020, the Luxembourg Parliament discussed and voted in favor of the bill implementing the DAC 6 Regulation in national law which was last amended by bill no 749510. The amended and now implemented bill (bill no 74959) extends the exemptions from the reporting obligations to expert-comptables, auditors, and lawyers and also removes the requirement for intermediaries to provide basic information to tax authorities, thus benefiting from the legal privilege.
However, intermediaries must notify (i) at the latest within ten days beginning on the day after the cross-border tax arrangement is made available for implementation; or (ii) on the day after the cross-border tax arrangement is ready for use; or (iii) when the first steps in the implementation of the cross-border tax arrangement have been made, whichever occurs first, the other reporting intermediaries, or in the absence of such an intermediary, the taxpayer concerned, of the reporting obligations as defined in this law.
Furthermore, the law implementing the DAC 6 Regulation will be similar to the first bill dated 8 August 2019 and will come into force on 1 July 2020. The reporting deadline is short, and, by now, every potential intermediary and taxpayer should prepare for his/her reporting obligations.
For more information, please refer to our article: