On 8 August 2019, the Luxembourg Government submitted draft law 7465 to the parliament to implement the European Union (EU) mandatory disclosure rules and exchange of information on cross-border tax arrangements (DAC6 or the Directive).
In accordance with the mandatory disclosure rules, qualifying intermediaries (such as financial and tax advisers, lawyers, banks, accountants and domiciliation service providers) and under certain circumstances taxpayers need to report certain arrangements to the relevant tax authorities.
The law will apply as from 1 July 2020, but will also cover measures that started being implemented after 24 June 2018.
