Luxembourg updates the list of jurisdictions for exchanging CbC reports
On 13 December 2021, the Luxembourg Ministry of Finance published Grand-Ducal Regulation of 9 December 2021 in the Official Gazette amending Grand-Ducal Regulation of 13 February 2018. The Regulation updates the list of
See MoreLuxembourg updates electronic exchange and frequently asked questions of CbC report
On 20 August 2021, Luxembourg has announced that the section "Electronic exchange - country by country (CbC) reporting" as well as the frequently asked questions relating to the CbC declaration have been updated. Please note that the frequently
See MoreLuxembourg: Tax Authorities issues circular on updated loss carry-forward rules
On 10 August 2021, the Luxembourg Tax Authorities has published Circular No. 31, which clarifies the application of the loss carry-forward under the municipal business tax. Losses incurred with effect from 1 January 2017 are available for
See MoreLuxembourg issues circular on administrative fines and penalties
On 28 July 2021, the Luxembourg Tax Authorities has issued Circular No. 67 to set administrative fines and penalties in cases of tax fraud, criminal fraud, and the cooperation between the tax administration and the judicial authorities. The
See MoreLuxembourg issues updated guidance on interest deduction limitation
On 28 July 2021, the Luxembourg Tax Authorities has published Circular L.I.R. n° 168bis/1 (French), which clarifies certain aspects of the interest expense deduction limitation rules included in the article 168bis of the Luxembourg Income Tax
See MoreLuxembourg: Circular provides updated guidance on interest deduction limitation
On 2 June 2021, the Luxembourg Tax Authorities has published Circular L.I.R. n° 168bis , which clarifies certain aspects of the interest expense deduction limitation rules included in article 168bis of the Luxembourg Income Tax Law (ITL). The
See MoreLuxembourg: Tax Authorities issues circular on updated MAP guidance
On 11 March 2021, the Luxembourg Tax Authorities has issued Circular L.G. - Conv. D.I. n° 60 regarding the updated mutual agreement procedure (MAP) guidance. The Circular replaces previous Circular L.G. Conv. D.I. No. 60 of 28 August 2017. The
See MoreIMF Report Recommends Further Tax Measures for Luxembourg
On 15 March 2021 IMF staff issued a concluding statement following discussions under Article IV of the IMF’s articles of agreement. Luxembourg’s economy has come through the pandemic well so far, owing to effective policy measures and
See MoreLuxembourg: Tax Authorities modifies guidance on DAC6
On 17 February 2021, the Luxembourg Tax Authorities has modified guidelines concerning the mandatory disclosure and exchange of cross-border tax arrangements (DAC6) as per Council Directive (EU) 2018/822 of 25 May 2018. The following headings
See MoreLuxembourg: Parliament adopts Law on tax return deadline extension for 2019 and 2020
On 9 February 2021, the Luxembourg Parliament has adopted a draft law which was announced in December 2021 regarding the tax return filing deadline extension for 2019 and 2020 due to the COVID-19 pandemic. The deadlines are set for individual
See MoreLuxembourg Parliament approves Bill on the deduction of interest and royalties expenses
On 28 January 2021, the Luxembourg Parliament has approved Bill No. 7547 introducing a non-deductibility of interest or royalties paid to associate enterprises established in countries that are “blacklisted” as being “non-cooperative” for
See MoreLuxembourg updates the list of jurisdictions for exchanging CbC reports
On 26 January 2021, the Luxembourg Ministry of Finance published Grand-Ducal Regulation of 22 January 2021 in the Official Gazette amending Grand-Ducal Regulation of 13 February 2018. The Regulation updates the list of jurisdictions for
See MoreLuxembourg: Tax Authorities issues guidance on interest deduction limitation
On 8 January 2021, the Luxembourg Tax Authorities has published Circular L.I.R. n° 168bis/1 (French), which clarifies certain aspects of the interest expense deduction limitation rules included in article 168bis of the Luxembourg Income Tax
See MoreLuxembourg intends to extend the tax return filing deadline for 2019 and 2020
On 21 December 2020, Luxembourg's Ministry of Finance has issued a press release regarding the extension of filing deadlines for tax returns due to the ongoing COVID-19 pandemic. The deadline for filing individual and corporate income tax (CIT)
See MoreLuxembourg: Finance Minister presents draft budget law for 2021
On 14 October 2020, Luxembourg’s Finance Minister has presented the draft budget law 2020 to the Parliament. There are no measures regarding major tax reform or an increase in the tax rate in the draft budget law. The draft budget laws contain a
See MoreLuxembourg: Tax Administration issues update guidance on DAC6 reporting
On 14 October 2020, the Luxembourg Tax Administration has issued updated guidelines concerning the mandatory disclosure and exchange of cross-border tax arrangements (DAC6) as per Council Directive (EU) 2018/822 of 25 May 2018. DAC6 is effective
See MoreDAC6 Updates: Optional deferral of DAC6 reporting deadlines
On 24 June 2020, the European Council reached agreement on an optional 6-month postponement to the reporting deadlines for relevant taxpayers under EU Directive 2018/822 (DAC6), and a delay to the exchange of information under
See MoreLuxembourg: Parliament approves Bill on deferral of DAC 6
On 22 July 2020, the Luxembourg Parliament approved Bill No. 7625 for filing and exchanging information on reportable cross-border arrangements under Directive 2018/822/EU (DAC 6) amid COVID-19 pandemic. The Bill includes the following information
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