A bill filed on 6 July 2020 with the Luxembourg Chamber of Deputies would postpone the tax reporting deadlines under the FATCA and common reporting standard (CRS) regimes.
The bill (number 7625) follows the adoption by the Council of the European Union on 24 June 2020 of an amendment to the Directive on Administrative Cooperation (DAC), to give EU Member States the option to defer the time limits for automatic exchanges of information under CRS (DAC 2) and for filing and exchanging information under DAC 6.
The Luxembourg government already announced its intention to opt for the deferral on 4 June 2020.
Read a July 2020 report prepared by the KPMG member firm in Luxembourg
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