Luxembourg: Update on 2017 tax reform legislation

Luxembourg: Update on 2017 tax reform legislation

The 2017 tax reform bill is advancing towards enactment, with nearly all measures for individual and corporate taxpayers having been passed.

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The parliament on 14 December 2016 passed the bill (parliamentary document n° 7020). Yet, there were changes and clarifications made to the bill during the legislative process, including provisions concerning:

  • Electronic filing of corporate tax returns first applies for tax year / fiscal year 2017
  • The election for the deferral method of standard depreciation and amortization (most likely, by checking a box on the annual tax return)
  • Legal liability of representatives and directors for unpaid amounts of value added tax (VAT) 

 

Read a December 2016 report [PDF 221 KB] prepared by the KPMG member firm in Luxembourg: Luxembourg 2017 tax reform passed

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