Covid-19 : law extending the reporting deadlines for DAC6, CRS and FATCA

On 22 July 2020, the Luxembourg Parliament approved Bill No. 7625 (“Law”) implementing Council Directive (EU) 2020/876 adopted on 24 June 2020 giving EU Member States the option to defer the deadlines for automatic exchanges of information under Directive 2014/107/EU (so called “DAC2”/CRS) and for filing and exchanging information on reportable cross-border arrangements under Directive 2018/822/EU (so called “DAC6”). The Law also defers reporting deadlines under the Foreign Account and Tax Compliance Act (so called “FATCA”).

Please find the new deadlines for reporting summarised in an easily readable format in our past Newsflash.