Luxembourg, in a draft law, appears ready to adopt one of the EU recommended measures for non-deductibility of costs payable to an EU black list country. However, there is also an economic exception in the draft, although the documentation to avail the exception is not yet known.
The new law should apply as of 1/1/2021, although not yet certain.
An alert from Goodwin provides additional details.
https://www.goodwinlaw.com/publications/2020/03/03_27-luxembourg-adopts-draft-bill
Strategizing Multinational Tax Risks 
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