Credit: this story was first seen on: International Investment
The Anti-Tax Avoidance Directive (ATAD) I intra-EU hybrid mismatches rules were introduced into Luxembourg’s domestic law, with effect from 1 January 2019.
Draft legislation to enforce a crackdown on tax avoidance has been submitted by the Luxembourg government on 8 August. Luxembourg is “implementing the second EU Anti-Tax Avoidance Directive (ATAD 2) into domestic law”, which “aims to combat current avoidance practices which utlise the hubridity of an instrument or an entity to mitigate the tax laibility for transactions both within and outside of the EU”.
The deadline for the EU member states to implement ATAD 2 into domestic law is 1 January 2020.