The Luxembourg Parliament has approved a draft law implementing the first part of the "Zukunftspakt" (The Package for the Future), which formalises the framework for Luxembourg transfer pricing legislation, and introduces transfer pricing documentation requirements. Furthermore the new legislation restates the arm’s length principle.
The draft legislation dated 19 December 2014, but not actually published until 24 December 2014 as part of the 2015 Budget Law, includes changes to both the Luxembourg Income Tax Law of 1967 (LITL) and the general tax law.
The new measures have already taken effect as from 1 January 2015.
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