Bill Implementing The EU Public CbC Reporting

The Bill 8158 transposing EU Directive 2021/2101 amending Directive 2013/34/EU as regards disclosure of income tax information by certain undertakings and branches ("EU public country-by-country ("CbC") reporting directive") imposes on certain entities a yearly mandatory disclosure of certain income tax information. The disclosure obligation would be required for financial years starting on or after 22 June 2024.

Targeted entities include inter alia Luxembourg limited liability companies and transparent entities where all shareholders have limited liability, whether they are members of a consolidated group or not, exceeding a 750,000,000 EUR turnover threshold for two consecutive financial years. Luxembourg branches of entities established outside the EU will also be subject to the yearly disclosure obligation when exceeding an 8,800,000 EUR turnover threshold for two consecutive financial years. The disclosure obligation will not apply to Luxembourg entities and