Short Reads

Draft bill of law regarding certain payments to non-cooperative jurisdictions

Draft bill of law regarding certain payments to non-cooperative juris

Draft bill of law regarding certain payments to non-cooperative jurisdictions

27.03.2020 LU law

On 25 March 2020, the Government of Luxembourg issued a press release[1] on a draft bill of law introducing certain measures in relation to interest or royalties paid or due to related entities established in a country or territory listed under the EU list of non-cooperative jurisdictions for tax purposes[2].

The bill of law will tackle certain financial operations carried out with related enterprises established in jurisdictions deemed as non-cooperative for tax purposes. Under the bill of law, operating expenses exclusively caused by these related entities would become non-deductible.

According to the press release, the bill of law follows the recommendations of the Economic and Financial Affairs Council of the EU, dated 5 December 2019, whereby all Member States were urged to adopt legislative defensive measures in taxation vis-à-vis non-cooperative jurisdictions.

We will report back with more details once the bill of law is made available.

 

[1] Click here to read the press release.

[2] https://www.consilium.europa.eu/en/meetings/ecofin/2019/12/05/

Team

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