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Luxembourg Tax News 2015













Luxembourg V.A.T Rise

January 2015
Starting January 1, 2015 the new standard V.A.T rate is increased from 15% to 17%.
The reduced rate of 12% is increased to 14% and the reduced 6% rate is increased to 8%.
The 3% V.A.T rate remains unchanged.


Luxembourg Poland Double Tax Treaty

August 2013
The double tax treaty of 2012 between the two countries entered into force on July 25, 2013.
According to the tax treaty the tax withholding rate for payments of dividends is 0%/15% depending inter-alia on the percentage of shareholding in the paying company.
The tax withholding rate for interest and royalties is 5%.
In general double tax treaties between two countries are boosting mutual investments between the countries offering reduced tax withholding rates from payments of dividends, interest and royalties.
The tax treaty often includes an exchange of tax information clause and definition of a permanent establishment for activities carried in the other country.
It also clarifies certain cross border tax issues.
E.g the treaty would define in what country tax is to be paid when a service supplier/consultant from country A provides services in country B.
In some treaties there is a tax credit under certain terms. e.g. an exemption to a consultant from country A of X dollars per each day of staying in country B in order to supply the taxable services.


Luxembourg VAT Update

December 2012
Starting January 1, 2013 all transactions exceeding EUR 112,000 must be electronically filed to the VAT office. The obligation does not include SMEs.
In addition the registration threshold will increase from the current EUR 10,000 to EUR 25,000.


Luxembourg 2013 Budget

October 2012
Luxembourg 2013 budget which was presented on October 2, 2012 includes several tax amendments.
For individuals the employment fund surcharge will increase from 4% to 6%. The surcharge for companies will also increase from 5% to 7%.
A new minimum corporate income tax will be introduced ranging from EUR 500 to EUR 10,000.


Luxembourg Online V.A.T. Returns

January 2012
Starting January 1, 2013 all V.A.T. taxpayers in Luxembourg will have to file online their monthly/quarterly V.A.T. returns.


Luxembourg Russia New DTA

December 2011
Luxembourg and Russia signed on November 21 a new protocol amending the existing 1993 double tax treaty, DTA.
The protocol includes, inter-alia, a reduced 5% tax withholding rate instead of the present 10% rate from certain payments of dividends subject to terms.
The new DTA will enter into force after being ratified by both countries.


Luxembourg is off the Brazilian Grey List

April 2011
Brazil's tax authorities removed on 28.3.2011 Luxembourg's holding companies from the Brazilian grey list of privileged tax regimes.
An inclusion in the grey list has implications regarding Brazilian thin capitalization and transfer pricing regulations.


Luxembourg UAE Double Taxation Treaty

May 2009
On April 29, 2009 the Luxembourg parliment finally ratified the double taxation tax treaty between Luxembourg and the UAE, The traety was pending since November 2005.
The treaty includes provisions regarding tax withholding rates for payments of dividends, interest and royalties, based mainly on the OECD model, taxation of capital gains between the two countries and exchange of tax information.
The treaty will be effective from 1.1.2010.


Luxembourg Corporate Tax Reduction

May 2008
Luxembourg's prime minister announced on 22 May 2008 that he will reduce Luxemburg's corporate tax rate from 29.63%, consisting of corporate tax and municipal tax, to 25.5%.
The reduction will be effective from 1.1.2009.
From 1.1.2009 the 0.5% capital duty will be abolished. Capital duty is imposed on contributions of capital to a company. Earlier in 2008 the capital duty was reduced from 1% to 0.5%.
The proposed changes are expected to increase Luxembourg's attractiveness to foreign investors.







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