Luxembourg to apply automatic information exchange in 2015
The Luxembourg Government has adopted a bill implementing its April 10, 2013, decision to apply compulsory automatic information exchange to savings income covered under the current European Union (EU) Savings Tax Directive from 1 January
See MoreLuxembourg: VAT rate will increase
The Luxembourg Prime Minister has announced that, Luxembourg is set to raise its standard rate of VAT in 2015. The standard VAT rate is currently 15% and at present it is the lowest standard rate in the EU. The Prime Minister has indicated that the
See MoreLuxembourg and Mauritius sign DTA Protocol
Luxembourg and Mauritius have signed a protocol amending the bilateral double tax agreement between the two countries. This protocol modifies a number of provisions in the agreement, and provides for the exchange of information upon request between
See MoreDTA between Luxembourg and Kazakhstan entered into force
Luxembourg ratified the first Income and Capital Tax Treaty with Kazakhstan on 16 May 2013. The treaty was signed on 3 May 2012 and entered into force on 10 December 2013. The provisions of the treaty will be applicable from 1 January 2014
See MoreLuxembourg: Government announces key fiscal policy agenda
The new Luxembourg government published components of its future fiscal policy on 2 December 2013. The government will focus on structural reforms in three major areas: an examination of public expenditure, measures to promote economic growth, and
See MoreLuxembourg: Rejection of a tax on FTT
A recent report confirmed that Luxembourg’s clear rejection of a tax on financial transactions (FTT). Luxembourg will carry on ruling out the idea of such a tax, as currently envisaged by eleven EU member states, within the structure of enhanced
See MoreLuxembourg: Automatic exchange of tax information
Jean-Claude Juncker, the prime minister of Luxembourg declared that the Grand Duchy of Luxembourg will adopt the automatic exchange of information foreseen in the European Union Savings Directive and that will effect from first January 2015. The
See MoreLuxembourg: PM presented details of future Tax Reform
Xavier Bettel, the new Prime Minister of Luxembourg has presented a Government Declaration outlining details of plans to reform taxation in the Grand Duchy to the country’s Chamber of Deputies. The Government wants to set up a consultative tax
See MoreLuxembourg: New circular declares VAT exemption for risk management services
“Administration de l’Enregistrement et des Domaines”, the Luxembourg VAT Authorities issued a Circular (Circular n° 723 ter) on 7th November 2013, confirming that risk management services for funds could be VAT exempt. The guidance from the
See MoreLuxembourg wants acceleration of negotiation on Savings Tax
Luxembourg has called on the European Commission (EC) to accelerate negotiations with third party countries, to make sure that progress is made on plans to modify the Savings Tax Directive. The Savings Tax Directive is designed to ensure that income
See MoreLuxembourg Considers Tax Rise
The assessment of current negotiations on the formation of a new Government of Luxembourg is that there is a pledge to redressing the public finances if necessary with recourse to tax measures. However Luxembourg is starting from a favorable
See MoreCanada-Luxembourg: DTC Protocol Entry into force
The Protocol amending the double taxation Convention between Canada and Luxembourg has entered into force on December 10, 2013 and was actually signed on May 8,
See MoreIncome tax treaty between Luxembourg and Laos
An income and capital tax treaty between Luxembourg and Laos has been ratified, and awaiting the exchange of instruments of ratification before the treaty can enter into force. The Luxembourg and Laos income tax treaty provides withholding tax rates
See MoreLuxembourg – Income tax treaty with Seychelles
The income and capital tax treaty between Seychelles and Luxembourg entered into force on August 19, 2013, and which will effective from beginning of January 2014. The Seychelles concluded one of the first treaty with Luxembourg. This treaty
See MoreSpain: Tax ruling expanding capital gains tax to indirect transfer of Spanish real estate by Luxembourg entities
Spanish tax authority recently published a ruling regarding indirect transfer of Spanish real estate by a Luxembourg entity which is taxable in Spain under the provisions of the Luxembourg-Spain tax treaty. Investment funds from real estate and
See MoreTreaty between Luxembourg and Singapore signed
The Luxembourg – Singapore Income and Capital Tax Treaty (2013) was signed on 9 October 2013 in Washington DC. The treaty is based on the OECD Model Tax Convention. When it will force and in effect, the new treaty will switch the
See MoreTreaty between Germany and Luxembourg enters into force
The Income and Capital Tax Treaty between Germany and Luxembourg entered into force on 30 September 2013. The treaty generally applies from 1 January 2014. From this date, the new treaty generally replaces the Income and Capital Tax Treaty
See MoreProtocol and exchange of letters entered into force to treaty between Korea (Rep.) and Luxembourg
The amending protocol and exchange of letters, which was signed on 29 May 2012, the Income and Capital Tax Treaty between Korea (Rep.) and Luxembourg, entered into force on 4 September 2013. The protocol generally applies from 4 September
See More