Dear Friends of the Chamber,
Many of you will be directly or indirectly impacted by the upcoming reporting obligations introduced by DAC6, the latest of a series of European directives on administrative cooperation in tax matters between EU Member States. The beginning of application of DAC6 is 1st July 2020, covering arrangements dating back since June 2018, and many tax and legal professionals, advisers, lawyers, fund managers, clients and accountants are gearing up to a wave of new reporting obligations.
The law of 25 March 2020, in French, implements the “DAC6” European directive into Luxembourg domestic law.
In line with the BCC’s fundamental mission – that of aiding the English-speaking community of Luxembourg to do business – the BCC has taken the lead to translate the Luxembourg law implementing DAC6 into English.
We hope this will help you in your day-to-day activities and look forward to your continuing membership and interest in the activities of the British Chamber.
We would like to thank Harneys Luxembourg (www.harneys.com/jurisdictions/luxembourg/) for their help and support with a court-approved translator.
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The campaign, “Keep Business Moving,” directs EU traders to a dedicated webpage, gov.uk/eubusiness, which provides information on the actions they need to take to continue trading smoothly with the UK at the end of the year.
Due to the absence of harmonized rules, cross-border migrations have a long history of jurisprudence within the EU. Directive 2019/2121 aims at creating a common legal framework for EU cross-border conversions and divisions.