|
By Christian SCHLESSER, Partner, Tax Leader Eduardo ISIDRO, Senior Manager, International Tax and Transaction Services, EY Luxembourg
This article focuses on the accounting and financial reporting recommendations provided by the Luxembourg Accounting Standards Board’s (Commision des Normes Comptables - CNC) QA document CNC 25/035, in relation to the OECD’s Pillar Two framework.(1)
Key topics include the distinct accounting treatment between fiscal years before the transition year and years starting from the transition period, the recognition of deferred tax assets, disclosure recommendations and practical implications for Luxembourg businesses in terms of financial reporting. Notably, this article will not cover specific methods...
|