The parliament on 13 December 2016 passed legislation providing for non-public country-by-country (CbC) reporting, and transposing an EU directive—EU Directive 2016/881 (25 May 2016) or “DAC 4”— into Luxembourg domestic law.
CbC reporting applies to multinational enterprise (MNE) groups with total consolidated group revenue exceeding €750 million (or an equivalent amount in the local currency) during the prior fiscal year.
Certain Luxembourg group entities will have to comply with filing and notification requirements. Currently, the Luxembourg authorities have not provide official information regarding the procedures for CbC filing and notification; however, there is an understanding that such filing and notification could be expected to be completed via the online system “MyGuichet.”
Failure to comply with these rules may result in a penalty of up to €250,000.
Read a December 2016 report [PDF 486 KB] prepared by the KPMG member firm in Luxembourg: Luxembourg law on non-public country-by-country reporting passed
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