On 10 July 2015, the government’s council approved a bill containing various new tax measures which will have an impact on most multinational groups with subsidiaries in Luxembourg. Whilst the text of the bill is not yet available, the press release issued by the Luxembourg government indicated that the key measures included in the new bill are as follows:
The bill must now be voted by the Luxembourg parliament. In parallel, the Luxembourg government is currently working on a comprehensive tax reform for 2017.
Most of the above provisions should further enhance the attractiveness of Luxembourg for international investors. Luxembourg corporate taxpayers should nevertheless assess the possible consequences of these new measures once the actual text of the bill is available.
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Any tax advice in this communication is not intended or written by KPMG to be used, and cannot be used, by a client or any other person or entity for the purpose of (i) avoiding penalties that may be imposed on any taxpayer or (ii) promoting, marketing, or recommending to another party any matters addressed herein.The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.