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ARTICLE · 14 JULY 2022

Luxembourg Introduces New Reporting Obligations As Implementing DAC7

Atoz Tax Advisers
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On 13 June 2022, a draft law (the "Draft Law") implementing Council Directive (EU) 2021/514 of 22 March 2021 amending Directive 2011/16/EU on administrative cooperation in the field of taxation...

LuxembourgTax
Romain Tiffon
Romain Tiffon
Marie Bentley
Marie Bentley

OUR INSIGHTS AT A GLANCE

  • On 13 June 2022, a draft law implementing the 7th version of the Directive on Administrative Cooperation in the field of taxation ("DAC7") into domestic legislation was presented to the Luxembourg parliament.
  • DAC7 introduces new reporting obligations for digital platform operators and brings clarifications and improvements to the existing rules on administrative cooperation. To this effect, it introduces notably a definition of the "foreseeable relevance" of the information requested by foreign tax authorities about one taxpayer individually or a group of taxpayers. In addition, it provides a framework for the competent authorities of two or more member states to conduct joint audits.

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