The Luxembourg Ministry of Finance today released a position paper concerning tax transparency and advance rulings.
The position paper states that, among other items, under an enhanced framework for tax rulings with regard to the application of transfer prices:
According to today’s position paper [PDF 79 KB], these legislative changes would codify into law what is currently an administrative practice of the Luxembourg tax office.
The draft law would further provide that any request for a ruling regarding corporate tax matters, filed with the tax office, would have to be submitted to a supervisory commission (commission des decisions anticipées)—a newly established body, authorized to issue a binding opinion on which the tax office’s advance ruling would be based.
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