On 9 December 2014, the Council adopted the Directive amending Directive 2011/16/EU of 15 February 2011 on administrative cooperation in the field of taxation (“DAC 2”).
Lists of Excluded Accounts and Non-Reporting Financial Institutions published
The list of accounts that are to be treated as "Excluded Accounts" for the purposes of subparagraph C.17(g) of Section VIII of Annex I of DAC 2 as well as the list of entities that are to be treated as "Non-Reporting Financial Institutions" for the purposes of subparagraph B.1(c) of Section VIII of Annex I of DAC 2 have been published in the Official Journal of the European Commission (No 362) on 31 October 2015 (see page 7 for Excluded Accounts and page 13 for Non-Reporting Financial Institutions).
Without any surprise, the following three categories of accounts are considered as Excluded Accounts as far as Luxembourg is concerned:
For Luxembourg, no entity is included in the list of Non-Reporting Financial Institutions.
The next steps in the process of entry into force of the DAC 2 and Common Reporting Standard in Luxembourg should be as follows:
Both steps are expected to take place still in 2015.
Bill of law N° 6858 transposing the DAC 2 amended by the Government
On 5 November 2015, the Government submitted to the Parliament amendments to the Bill of law N° 6858 transposing the DAC 2:
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