Luxembourg amends Common Reporting Standard list of participating and reportable jurisdictions

On 23 December 2022, Luxembourg's Official Gazette published the Grand-Ducal Regulation of 23 December 2022 amending the Common Reporting Standard (CRS) list of participating and reportable jurisdictions for the year 2022 and subsequent years.

The following five jurisdictions were added: (i) Jamaica; (ii) Moldova; (iii) Montenegro; (iv) Thailand; and (v) Uganda.

With the expansion of the list of CRS participating and reportable jurisdictions to be effective as of 23 December 2022, financial institutions should immediately implement the required operational and system enhancements to integrate the new jurisdictions in their CRS due diligence and reporting duties.

For additional information with respect to this Alert, please contact the following:

Ernst & Young Tax Advisory Services Sàrl, Luxembourg City

• Bart Van Droogenbroek, Luxembourg Tax Leader

• Dan Zandona, Business Tax Services

• Marie-Sophie Dervieu, Banking and Insurance

• Patrice Fritsch, Business Tax Services

Ernst & Young LLP (United States), Luxembourg Tax Desk, New York

• Xavier Picha

Ernst & Young LLP (United States), Luxembourg Tax Desk, Chicago

• Alexandre J. Pouchard

• Andres Ramirez-Gaston

For a full listing of contacts and email addresses, please click on the Tax News Update: Global Edition (GTNU) version of this Alert.