Luxembourg VAT compliance changes have been proposed from 2015. The new measures aim to improve the VAT regime in tax free zones and elimination of potential double taxation on goods in VAT suspension released into a free zone. The supply of art and antiques is to be reclassified from the standard VAT rate of 15% to the reduced VAT rate of 6%. Auctioneers may apply for the use of the profit margin scheme, rather than conventional input/output VAT in relation to sales of art, antiques and other used goods. If approved by Parliament, the above measures will be implemented from first of January 2015.
Related Posts
Moldova: Parliament approves amending protocol to tax treaty with Luxembourg
November 20, 2024
The Moldovan parliament approved a draft law to ratify the amending protocol to the Luxembourg-Moldova Income and Capital Tax Treaty (2007) on 15 November 2024. Earlier, Moldovan government approved the amending protocol on 2 October 2024. The
Read More Luxembourg updates CbC reporting guidance
November 13, 2024
The Luxembourg Administration of Direct Tax has updated its Country-by-Country (CbC) reporting guidance page, including an updated CbC reporting FAQ, to reflect the latest OECD recommendations. The update addresses whether profits (losses) before
Read More
Luxembourg revises draft law to amend Pillar Two global minimum taxation
November 11, 2024
The Luxembourg government published a revised draft law on 31 October 2024 amending the Global Minimum Taxation Law, commonly referred to as the Pillar Two law. This revised draft introduces additional amendments to the initial draft published on
Read More
Argentina, Luxembourg sign protocol for pending tax treaty
November 04, 2024
Argentina and Luxembourg signed an amending protocol to the 2019 income and capital tax treaty on 25 October 2024. The tax treaty aims to eliminate double taxation on income and capital taxes while preventing tax evasion and fraud between
Read More Luxembourg introduces updated online filing procedures for fund subscription tax returns
October 29, 2024
The Luxembourg Registration Duties, Estates and VAT Authority launched new online procedures N° 821 for submitting subscription tax returns for Undertakings for Collective Investment (UCI), Specialised Investment Funds (SIF), and Reserved
Read More Luxembourg, Oman sign first income tax treaty
October 21, 2024
Luxembourg and Oman have signed an income tax treaty on 17 October 2024. HE Sheikh Dr Abdullah bin Salem al Harthy, Oman's Ambassador to Luxembourg, signed the agreement on behalf of Oman, and HE Gilles Worth, Luxembourg's Minister of Finance,
Read More