Prime Minister Xavier Bettel, on 26 April 2017, delivered a speech in which he presented the government’s policy plans, some of which concern tax.
Prime Minister Xavier Bettel, on 26 April 2017, delivered a speech in which he presented the government’s policy plans, some of which concern tax. The text of the speech (in Luxembourgish) is available here.
The main tax-related points announced by Mr Bettel during his speech are as follows:
The Prime Minister announced the introduction of a new intellectual property (IP) tax regime in 2018. This new IP regime shall reinforce research and development (R&D) activities in Luxembourg and stimulate the R&D spending of foreign investors in Luxembourg. This new IP regime will have to be in line with the new international tax standards set by the EU and OECD (in particular, BEPS Action report 5). No further details have been revealed.
The Prime Minister discussed the numerous measures implemented by Luxembourg to reinforce tax transparency in line with its obligations as a member of the EU and the OECD. As regards the exchange of information, he mentioned that Luxembourg is not in favour of the public reporting of confidential information. In his speech, the Prime Minister stated that information should be exchanged only between authorities.
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