News bulletin on the country-by-country reporting.
On 13 December 2016, the Luxembourg Parliament adopted a bill on country-by-country reports between EU Member States. Weidema van Tol focusses on Luxembourg entities that are part of a Multinational Enterprise Group.
On 13 December 2016, Luxembourg Parliament has adopted the draft Bill of Law n. 7031 (the “Bill of Law”) implementing the European Union Council Directive 2016/881 amending European Union Council Directive 2011/16/EU as regards mandatory automatic exchange of country-by-country reports between the EU Member States (the “Directive”) into Luxembourg law. The adoption of such Bill of Law implements an obligation of “country-by-country” (“CbC”) reporting for Luxembourg entities that are part of a Multinational Enterprise Group (“MNE Group”) carrying on business activities in Luxembourg, the European Union as well as in foreign jurisdictions.