Luxembourg Draft bill on transposition of DAC and MCAA submitted to Parliament

On 14 August 2015, a Draft bill (n° 6858) concerning the automatic exchange of financial account information in the field of taxation was submitted to the Luxembourg Parliament (Link – French). More precisely, this Draft bill addresses the transposition of Directive 2014/107/EU (Amending the EU Savings Directive to incorporate CRS), the ratification of the MCAA signed on 29 October 2014, in Berlin, and the modification of the Law of 29 March 2013, on the administrative cooperation in the field of taxation. This Draft bill, once accepted by the Parliament, will transpose the Standard for the Automatic Exchange of Information into Luxembourg law and will apply from 1 January 2016.

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