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Aki Corsoni-Husain
Aki Corsoni-Husain
  • Aki Corsoni-Husain

  • Partner
  • Cyprus
George Apostolou
George Apostolou
  • George Apostolou

  • Partner
  • Cyprus
Jermaine Case
Jermaine Case
  • Jermaine Case

  • Associate
  • British Virgin Islands
Chiara Deceglie
Chiara Deceglie
  • Chiara Deceglie

  • Partner
  • Luxembourg
Massimiliano della Zonca
Massimiliano della Zonca
  • Massimiliano della Zonca

  • Senior Associate
  • Luxembourg
Philip Graham
Philip Graham
  • Philip Graham

  • Partner
  • British Virgin Islands
Ayana Hull
Ayana Hull
  • Ayana Hull

  • Counsel
  • British Virgin Islands
Katerina Katsiami
Katerina Katsiami
  • Katerina Katsiami

  • Associate
  • Cyprus
Petros Kiteos
Petros Kiteos
  • Petros Kiteos

  • Associate
  • Cyprus
Andrew Knight
Andrew Knight
  • Andrew Knight

  • Partner
  • Luxembourg
Evi Koutsioumpa
Evi Koutsioumpa
  • Evi Koutsioumpa

  • Associate
  • Luxembourg
Joshua Mangeot
Joshua Mangeot
  • Joshua Mangeot

  • Counsel
  • British Virgin Islands
Mirza Manraj
Mirza Manraj
  • Mirza Manraj

  • Counsel
  • Hong Kong
Elina Mantrali
Mirza Manraj
  • Elina Mantrali

  • Associate
  • Cyprus
Vanessa Molloy
Vanessa Molloy
  • Vanessa Molloy

  • Partner
  • Luxembourg
Andrea Moundi Savvides
Andrea Moundi Savvides
  • Andrea Moundi Savvides

  • Associate
  • Cyprus
Marina Stavrou
Marina Stavrou
  • Marina Stavrou

  • Associate
  • Cyprus
Matt Taber
Matt Taber
  • Matt Taber

  • Partner
  • Cayman Islands
Carolynn Vivian
Carolynn Vivian
  • Carolynn Vivian

  • Senior Associate
  • Cayman Islands

ATAD 2 and expiry of tax rulings issued prior to 2015 passed by the Luxembourg Parliament

On 19 December 2019, the Luxembourg Parliament passed the law implementing the EU Directive 2017/952 of 29 May 2017 amending Directive (EU) 2016/1164 relating to hybrid mismatches with third countries (ATAD 2). ATAD 2 which modifies and replaces article 168ter of the Luxembourg Income Tax Law, largely follows the text of the EU Directive and covers hybrid financial instrument mismatches, hybrid entity or permanent establishment mismatches hybrid financial instruments mismatches, hybrid transfers, imported mismatches and tax residency mismatches. The provisions of ATAD 2 will apply as from 1 January 2020 except for the provisions relating to reverse hybrids which will apply as from 1 January 2022.

The Luxembourg Parliament also passed the 2020 Budget Law confirming the expiry of  the tax rulings issued by the Luxembourg tax authorities before 1 January 2015 after the end of the 2019 fiscal year. Please see our relevant previous blogpost here and our recommendation that the impact of the expiry of any ruling be examined, including whether it would be appropriate to make use of the ability that is given in the law to seek an extension to any particular tax ruling.