DAC7 extends the existing EU tax transparency rules to digital platforms. Broadly speaking, it requires platform operators to report information on income earned by sellers on their platforms, and Member States to automatically exchange this information.
Luxembourg has an attractive IP regime offering an 80% tax exemption of net income and gains from qualifying IP assets.
Today, the EU Council updated the EU list of non-cooperative tax jurisdictions. The update is an important step as it directly impacts the scope of application of three different Luxembourg tax measures
At the request of the Russian authorities, Luxembourg and the Russian Federation agreed to amend the Treaty, signing the Protocol on 6 November 2020.
On 28 January 2021, the Luxembourg Parliament approved bill of law n°7547 implementing measures concerning the non-tax-deductibility of interest and royalty payments made to entities located in non-cooperative jurisdictions.
Yesterday, the draft law which introduces a measure denying under certain conditions the corporate income tax deduction of interest and royalty expenses due to entities located in non-cooperative tax jurisdictions was passed by the Luxembourg Parliament
On 8 January 2021, the Luxembourg tax authorities (LTA) issued highly anticipated guidance with respect to the application of article 168 bis of Luxembourg income tax law (LITL), which was introduced in 2018 through the implementation in Luxembourg law of the EU Directive 2016/1164 Anti-Tax Avoidance Directive
On 8 January 2021, the Luxembourg direct tax authorities issued the Circular n°168bis/1 which clarifies the provisions of article 168 bis of the Luxembourg income tax law on the Luxembourg interest deduction limitation rule.
On 8 January 2021, the Luxembourg tax authorities issued a new Circular n° 168bis/1 (the “Circular”) in order to provide guidance on the interpretation of the interest deduction limitation rules (“IDLR”) laid down in Article 168bis of the Luxembourg income tax law (“LITL”).
On 23 December 2020, the Luxembourg Budget Law was published in the MeÌmorial (“the Law”). It contains some tax measures aiming at promoting investment in sustainable economic activities and is part of a more extensive sustainable finance strategy for Luxembourg as an international financial centre.
