On 29 February, earlier than initially expected, the Luxembourg Government released its long-awaited proposals for the tax reform to be implemented in 2017, which are built on four pillars: sustainability, fairness, selectivity, and competitiveness.
The Government outlines the main measures being currently contemplated, as described below, without giving more concrete details at this stage.
As far as corporations are concerned, the proposed decrease of the corporate income tax rate is a positive sign of the reinforcement of Luxembourg’s tax competitiveness. For individuals, the measures are balanced and in line with the Government’s objective of creating a fairer tax system. More details on the upcoming tax reform are now expected to be released in April during Prime Minister Bettel’s budget speech.
For further information, please do not hesitate to contact us.
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
KPMG International has created a state of the art digital platform that enhances your experience, optimized to discover new and related content.