The Luxembourg Council of Ministers has adopted a bill to implement into domestic law the amendments made to the EU Parent-Subsidiary Directive. Those amendments include that the participation exemption provided for in the Directive will not be granted if:
- A profit distribution made by a subsidiary to its parent company is deductible in the Member State of the subsidiary; or
- An arrangement or a series of arrangements are put in place with the main purpose or one of the main purposes of recei…