On 13 December 2016, the Luxembourg parliament adopted Law No. 7031, which transposes amendments to the EU Directive on administrative cooperation in the field of taxation (2011/16/EU) concerning the exchange of Country-by-Country (CbC) reports as per Council Directive (EU) 2016/881.The final draft of the law is largely the same as the draft proposed, including that:
- The CbC reporting requirements apply for fiscal years beginning on or after 1 January 2016 for MNE groups exceeding a consolid…