Luxembourg: United States removed from “participating jurisdictions” for CRS purposes

Luxembourg: US removed from participating jurisdictions

A Grand-Ducal draft regulation removes the United States for the list of “participating jurisdictions” for common reporting standard (CRS) purposes.

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The draft regulation concerns the mechanisms of the Multilateral Competent Authority Agreement on the automatic exchange of financial account information. Luxembourg will add Israel, Saint Kitts and Nevis, and Russia to the list of participating jurisdictions.


Read a July 2016 report prepared by the KPMG member firm in Luxembourg: Luxembourg draft regulation on CRS removes the United States from the list of Participating Jurisdictions

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