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Luxembourg passes law on non-public CbC reporting
13 December 2016, the Luxembourg parliament passed a law on non-public country-by-country (CbC) reporting to transpose the EU Directive 2016/881 of 25 May 2016 into domestic law. The law, when gazetted, will apply from 1 January 2016. CbC reporting applies to multinational enterprises (MNEs) whose total consolidated group revenue exceeds €750 million during the previous…