close
Share with your friends

Luxembourg: BEPS multilateral instrument (MLI) update

Luxembourg: BEPS multilateral instrument (MLI) update

The Luxembourg Parliament on 14 February 2019 passed legislation for the ratification of the multilateral instrument (MLI) into Luxembourg domestic tax law.

1000

Related content

If ratified, the MLI would generally implement the minimum standard provisions as agreed under the base erosion and profit shifting (BEPS) initiative—that is, the minimum standard for the prevention of treaty abuse (BEPS Action 6) and the minimum standard on more effective dispute resolution mechanisms (BEPS Action 14).

Ratification of the MLI would be a new milestone in Luxembourg’s pursuit of the BEPS initiative. Application of the MLI provisions on “covered tax agreements” would need to be monitored on a case-by-case basis with respect to ratification of the MLI by the other treaty partner country and the type of tax concerned (whether withholding tax or other taxes).

 

Read a February 2019 report prepared by the KPMG member firm in Luxembourg

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal