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By Géraud De BORMAN, Sidonie BRAUD, Philippe GHEKIERE, Halima TORCHI, PwC Luxembourg*
On 20 December 2023, the Luxembourg Parliament voted to approve the draft Law n°8292 transposing the EU Council Directive 2022/2523 of 14 December 2022 on ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the European Union, known as the EU Pillar 2 Directive or the GloBE (Global anti-Base Erosion) Directive.
The Law enters into force as from fiscal years starting on or after 31 December 2023 and targets groups having a consolidated revenue of at least EUR 750 million in at least two of the four fiscal years preceding the tested fiscal year.
The Pillar 2 Law is a separate law...
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