Luxembourg Parliament Adopts 2017 Tax Reform Measure

March 22, 2017

The Luxembourg Parliament has adopted new tax measures that affect individual and corporate taxpayers, with effect from 1 January 2017. This article summarizes key measures. For corporations, these measures include the reduction of the corporate income tax rate, limitation on the use of loss carry-forwards, abolition of the tax on transfers of claims, increase in the minimum net wealth tax, new VAT provisions, and a new Luxembourg law implementing the European Directive on country-by-country reporting.

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