FATCA and CRS Alert 2018-11 | KPMG | LU

FATCA and CRS Alert 2018-2

FATCA and CRS Alert 2018-2

The Grand-Ducal Decree dated 1 March 2018 has been published. It amends the Grand-Ducal regulation of 15 March 2016, which implemented article 2 §4 of the law of 18 December 2015 regarding the Common Reporting Standards (CRS).

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Amended Luxembourg Grand-Ducal regulation on CRS list of Reportable Jurisdictions released

On 5 March 2018, the Luxembourg tax authorities published the Grand-Ducal regulation completing the official list of Reportable Jurisdiction for CRS purposes in Luxembourg according to Annex 1 Section VIII D) 4) of the law of 18 December 2015 regarding CRS.

The list of Reportable Jurisdictions with which Luxembourg intends to exchange information as of 2018 (for reporting calendar year 2017) is as follows:

01. Andorra
45. Italy
02. Antigua and Barbuda 46. Japan
03. Argentina 47. Jersey
04. Aruba 48. Korea
05. Australia 49. Latvia
06. Austria 50. Lebanon
07. Azerbaijan 51. Liechtenstein
08. Bahamas 52. Lithuania
09. Barbados 53. Malaysia
10. Belgium 54. Malta
11. Belize 55. Mauritius
12. Brazil 56. Mexico
13. Brunei Darussalam 57. Monaco
14. Bulgaria 58. Montserrat
15. Canada 59. Netherlands
16. Chile 60. New Zealand
17. China 61. Niue
18. Colombia 62. Norway
19. Cook Islands 63. Pakistan
20. Costa Rica 64. Panama
21. Croatia 65. Poland
22. Curacao 66. Portugal
23. Cyprus 67. Romania
24. Czech republic 68. Russia
25. Denmark 69. Saint Kitts and Nevis
26. Dominica 70. Saint Vincent and the
Grenadines
27. Estonia 71. Sint Maarten
28. Faroe Islands 72. Samoa
29. Finland 73. San Marino
30. France 74. Saudi Arabia
31. Germany 75. Seychelles
32. Ghana 76. Singapore
33. Gibraltar 77. Slovak Republic
34. Greece 78. Slovenia
35. Greenland 79. South Africa
36. Grenade 80. Spain
37. Guernsey 81. St. Lucia
38. Hungary 82. Sweden
39. Iceland 83. Switzerland
40. India 84. Trinidad and Tobago
41. Indonesia 85. Turkey
42. Ireland 86. United Kingdom
43. Isle of man 87. Uruguay
44. Israel 88. Vanuatu

Interestingly, this new Grand-Ducal Decree dated 1 March 2018 lists some jurisdictions as Reportable Jurisdictions for CRS purposes that have not yet been included in the list of Participating Jurisdictions as defined by the Grand-Ducal Regulation dated 15 March 2016: Azerbaijan, Bahamas, Brunei Darussalam, Dominica, Lebanon, Pakistan, Panama, Singapore, Trinidad and Tobago, Turkey, and Vanuatu.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

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