DAC 6 implementation in Luxembourg: What's important?

What penalties are foreseen?

Any intermediary may be subject to a maximum penalty of EUR 250,000 in case of no, late, incomplete or inaccurate reporting to the Luxembourg tax authorities. Professionals benefitting from a professional secrecy privilege may in addition be subject to the same penalties in case of no or late notification to any other relevant intermediary (itself subject to reporting), and if there is none, the taxpayer itself.

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