Internatio­nales Steuer­recht

Luxembourg: EU list of non-cooperative tax jurisdictions updated, and DAC8 adopted

An analysis by ATOZ Tax Advisors, Taxand Luxembourg:

During a recent Economic and Financial Affairs Council meeting, the EU Council adopted the Council Directive, called “DAC8”, which amends Directive 2011/16/EU on administrative cooperation in the field of taxation.

DAC8 notably introduces new reporting obligations for crypto-asset service providers, automatic exchange of information on advance cross-border rulings for individuals. It also extends the list of income subject to mandatory automatic exchange between Member States and amends DAC6 which relates to reportable cross-border arrangements.

The EU Council has also updated the EU list of non-cooperative jurisdictions for tax purposes. This update is a significant development as it directly impacts the scope of application of three different Luxembourg tax measures.

In this Alert, Tax Partner Petya Dimitrova and Chief Knowledge Officer Marie Bentley of Taxand Luxembourg member firm, ATOZ Tax Advisors, analyse the nature of these measures and the implications.

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