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By Hugues HENAFF and Petya DIMITROVA, Atoz Tax Advisers*
On 10 August 2018, new legislation(1) entered into force in Luxembourg which grants to the Luxembourg tax authorities (“LTAs”) access to anti-money laundering (“AML”) information on taxpayers.
The law implements into Luxembourg law EU Directive 2016/2258 of 6 December 2016(2) which ensures tax authorities’ access to beneficial ownership information collected pursuant to the AML legislation (so called “ Directive on administrative cooperation 5” or “DAC 5”).
Background
DAC 5 was adopted in the context of a series of EU directives, the objective of which is to improve...
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