Luxembourg: Budget bill for 2018 | KPMG | GLOBAL

Luxembourg: Budget bill for 2018; individual and corporate tax changes

Luxembourg: Budget bill for 2018

The government presented legislation (bill 7200) as the budget law 2018. The tax measures in the bill include:

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  • Changes to the taxation of individuals—in particular, changes that would affect non-resident taxpayers
  • A new investment tax credit for software acquisitions for corporate taxpayers
  • Concerning the value added tax (VAT), an exemption for the management of specific types of insurance funds
  • Concerning an exchange of information upon request from foreign tax authorities, a right for taxpayers to file a claim with Luxembourg courts to contest information orders from the Luxembourg tax authorities

These measures would be effective 1 January 2018, once enacted.

A decrease in the rate of corporate income tax to 18% (excluding the contribution to the unemployment fund and municipal business tax) has already been enacted in Luxembourg tax law (in last year’s tax reform) and is also effective beginning 2018.

 

Read an October 2017 report prepared by the KPMG member firm in Luxembourg

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