Global Forum on Transparency and Exchange of Information for Tax Purposes: Luxembourg 2019 (second round) peer review report on the exchange of information on request : March 2019 (reflecting the legal and regulatory framework as at December 2018)

This report analyses Luxembourg's implementation of the international standard for transparency and exchange of information on request, as part of the second round of evaluation conducted by the Global Forum based on the Terms of Reference of 2016. It assesses the legal implementation of the standard on 19 December 2018 and its application in practice, particularly with regard to the requests for information received and sent during the period from 1 October 2014 to 30 September 2017. This report concludes that Luxembourg is overall "Largely Compliant" with the standard. This report is reflecting the legal and regulatory framework as at December 2018. Table of contents Reader’s guide Abbreviations and acronyms Executive summary Overview of Luxembourg Part A: Availability of information A.1. Information on ownership, beneficial ownership and identity A.2. Accounting records A.3. Banking information Part B: Access to information B.1. Competent authority’s ability to obtain and provide information B.2. Notification requirements, rights and safeguards Part C: Exchanging information C.1. Exchange of information mechanisms C.3. Confidentiality C.4. Rights and safeguards of taxpayers and third parties C.5. Requesting and providing information in an effective manner Annex 1: List of in-text recommendations Annex 2: List of Luxembourg’s EOI mechanisms Annex 3: Methodology for the review Annex 4: Luxembourg’s response to the review report