CJEU Advocate General Opines Luxembourg Did Not Breach ATAD by Exempting Securitization Entities from Interest Limitation Rules

Advocate General (AG) of the Court of Justice of the European Union (CJEU) issued an opinion on 18 June 2026 in Case C-138/24, European Commission v Grand Duchy of Luxembourg, concerning Luxembourg's transposition of the interest limitation rules under Council Directive (EU) 2016/1164 (ATAD). The case concerns Luxembourg's inclusion of securitization special purpose entities within the definition of financial undertakings under Article 168bis of the Luxembourg Income Tax Law, thereby allowin…