Changes in Luxembourg Tax Rates
The key aspects of the Luxembourg Tax Rates are summarized by Weidema van Tol.
Following a notice communicated by the European Commission to Luxembourg in September 2014 which concluded that Luxembourg’s rules with respect to the minimum taxation of companies may contravene the EU Parent Subsidiary Directive 2011/96/EU, the Luxembourg Minister of Finance submitted to the Luxembourg Parliament the bill of law Nr. 6891 on October 13, 2015 in order to align Luxembourg legislation to European requirements. The formal adoption and implementation of these changes through the law dated December 18, 2015 (the “Law”) leads to significant changes with respect to the framework applicable to the Luxembourg net wealth tax (“NWT”) regime and the abolition of the minimum Corporate Income Tax (“CIT”), with effect as of January 1, 2016.
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