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By Gerard Laures and Emilien Lebas, KPMG Luxembourg*
On 17 December 2013, a new step towards more transparency in tax matters was taken in Luxembourg with submission to the Parliament by the new Finance Minister Pierre Gramegna of the bill of law 6632 (the “Bill of Law”). Tax transparency and exchange of information have been extensively discussed at both European Union (“EU”) and international level over the past twelve months.
An impressive number of initiatives have been taken in this domain. One of the milestones in this movement for more transparency was the adoption of the directive 2011/16/EU of 15 February 2011 on administrative cooperation in the field of taxation (“EUACD”). The EUACD is, in practice, divided in two parts. On 29 March 2013,...
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