European Commission to investigate Luxembourg tax rulings

21 September, 2016

On 19 September 2016 the European Commission announced that it is commencing an investigation into the tax treatment of GDF Suez Group (now known as Engie) in tax rulings issued by Luxembourg. The tax rulings may in the view of the Commission have

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Luxembourg: Government submitted draft law on CbC reporting to the Luxembourg Parliament

16 August, 2016

Recently the Luxembourg Government submitted draft law n°7031 on country ­by­ country (CbC) reporting to the Luxembourg Parliament. The draft law is in accordance with a European Union (EU) Directive of 25 May 2016 requiring all EU Member States

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Luxembourg: Government passed the tax reform plans for 2017

21 July, 2016

The government of Luxembourg adopted tax reform plans for the year 2017 on 13 July 2016. The proposed changes are in line with the announcements made during the State of the Nation address on April 26, 2016. The changes announced for corporations

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Luxembourg: explanations regarding modifications to Net worth tax 2016

22 June, 2016

The Luxembourg administration for direct taxes published Circular which provides explanations regarding the 2016 changes of the Net worth tax (NWT), on 16 June 2016. A reduced rate of 0.05% applies for taxable net worth above EUR 500 million from 1

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Luxembourg: Corporate income tax rate proposed by reducing 3%

10 June, 2016

On 3 June 2016, the Ministry of Finance of Luxembourg published its Stability and Growth Program for 2016-2020. To further economic development, a reduction of the corporate income tax rate from 21% to 18% and an increase of the investment credits

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IMF report comments on economic position of Luxembourg

22 May, 2016

On 16 May 2016 the IMF issued a report following the conclusion of talks in Luxembourg under Article IV of the IMF’s articles of agreement. Economic growth in Luxembourg has been strong and reached 4.8% in 2015 driven by net exports of financial

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Luxembourg: Proposed 2017 tax reform measures

05 March, 2016

The government of Luxembourg released an outline of the proposals on 29 February 2016 for tax reform in 2017. The gradual introduction of the Organisation for Economic Co-operation and Development recommendations made in the framework of the Base

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IMF comments on Luxembourg tax changes

03 March, 2016

As part of a report on Luxembourg’s economic position following discussions under Article IV of its articles of agreement the IMF has commented on the current tax reform. The report notes that implementation of the international tax transparency

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Luxembourg: Circular on Reduction of Net Worth Tax

25 November, 2015

The Luxembourg administration for direct taxes published Circular on 19 November 2015 regarding the reduction of the net worth tax. In order to obtain the tax reduction, a company must allocate a portion of its profits of a tax year to a reserve

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Luxembourg: Electronic filing for company income tax return

29 October, 2015

Electronic filing is now available for Luxembourg resident company. On 29 October 2015, the Finance Minister declared a new e-filing tool for company income tax return, municipal business and net worth tax return. Initially e-filing process is

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Luxembourg: Proposed Corporate Tax Changes For 2015-2016

01 September, 2015

Recent amendments was made to the EU Parent-Subsidiary Directive into Luxembourg tax law and published on 5 August 2015. It has already been submitted to the Luxembourg Parliament. The measures include the provisions to modify the domestic

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Income Tax Treaty Signed between Luxembourg and Brunei

21 July, 2015

Luxembourg and Brunei have signed an Income Tax Treaty on 14 July 2015. The purpose of the agreement between the two countries is to enable the tax administrations to eliminate double taxation and prevention of fiscal

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Luxembourg: IMF comments on economic and fiscal policy

14 May, 2015

The International Monetary Fund (IMF) has held consultations with Luxembourg under Article IV of its articles of agreement and issued a press release on 13 May 2015. Economic growth in Luxembourg was close to 3% in 2014 partly owing to buoyant

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Protocol to DTA between Ireland and Luxembourg approved by Luxembourg

11 April, 2015

On 2 April 2015, the Council of Ministers of Luxembourg approved the amending protocol to the income and capital tax treaty with Ireland that signed on 27 May 2014. The protocol is submitted to parliament for final

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France-Luxembourg protocol to treaty approved by Luxembourg

10 April, 2015

Council of Ministers of Luxembourg approved the amending protocol on 2 April, 2015 which was signed on 5 September

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Luxembourg Signed an Income and Capital Tax Treaty with Uruguay

01 April, 2015

Luxembourg and Uruguay has signed an Income and Capital Tax Treaty on 10 March 2015. The treaty was signed for the avoidance of double taxation and prevention of fiscal

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Italy and Luxembourg: Protocol to DTA

23 February, 2015

The Protocol to the Double Taxation Agreement (DTA) between Italy and Luxembourg came into force on January 20,

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Luxembourg: Formalization of New Transfer Pricing Legislation and Documentation Requirements

06 February, 2015

The Parliament of Luxembourg has approved the draft law and has formalized the framework for Luxembourg transfer pricing legislation and introduced the transfer pricing documentation requirements. The new measures are effective from 1 January

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