Yesterday, a draft law was presented to Parliament in order to remove the exemption applicable to securitisation entities within the meaning of EU Regulation 2017/2402 of 12 December 2017 (the “EU Securitisation Regulation”) from the interest limitation rules that were introduced as from 1 January 2019 following the transposition of ATAD into Luxembourg domestic law. The draft law follows an infringement procedure launched by the European Commission against Luxembourg on the way it implemented the interest limitation rules of ATAD. As from 1 January 2023, securitisation entities within the meaning of the EU Securitisation Regulation will become subject to the interest limitation rules of article 168bis of the Luxembourg Income Tax Law (“LITL”).