On 10 July 2018, the expected Grand-Ducal Regulation amending the list of Reportable Jurisdictions was finally published at the official journal to include Hong Kong and Macau as Reportable Jurisdictions.
In addition, the Grand-Ducal Regulation removed Bahamas from the Reportable Jurisdictions list due to the non-reciprocal automatic exchange relationship under the CRS with Luxembourg.
The above changes will be effective as from 14 July 2018 for the calendar year 2017. The Grand-Ducal Regulation thus has a retroactive effect, given that the CRS reporting deadline of 30 June 2018 has already passed.
As previously announced in their newsletter dated 21 June 2018 (before the signature of the Grand-Ducal Regulation), the Luxembourg tax authorities are granting an extension of the reporting deadline until 31 August 2018 for report submissions related to Hong Kong and Macau.
The other changes provided by the Grand-Ducal Regulation (repeal of certain excluded accounts) will not affect the reporting requirements for the 2017 calendar year.