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By Philippe Neefs, Partner, Head of Transfer Pricing, KPMG Luxembourg Dr. Jens Krüger, Manager, Transfer Pricing, KPMG Luxembourg
An additional draft article 56bis of the Luxembourg Income Tax Law (LITL) was published on 12 October. The intention of this draft article is to give taxpayers and tax authorities more guidance on how to comply with the transfer pricing requirements of Luxembourg. The new article is largely based on the existing OECD Guidelines on transfer pricing and the most recent reports published by the OECD on base erosion and profit shifting. KPMG welcomes this addition to the existing legal framework for transfer pricing in Luxembourg as it gives taxpayers more clarity as to what they need to include in their transfer pricing...
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