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March 1, 2016
2016-0413

Luxembourg releases broad outline of 2017 tax reform

At a press conference on February 29, given by Luxembourg's Prime Minister Xavier Bettel, Vice-Prime Minister Etienne Schneider, Minister of Finance Pierre Gramegna and Minister of Justice Felix Braz, some long awaited details regarding the 2017 tax reform were released. As outlined by the Prime Minister, the proposed tax reform is designed to create social justice, increase competitiveness and strengthen employment. An amendment of the existing tax scales, tax credits and tax abatements for individuals as well as the confirmation of a gradual reduction of the corporate income tax rate for corporations are some of the measures envisaged to achieve these goals.

A Tax Alert prepared by Ernst & Young's Luxembourg Tax Desk in New York, and attached below, provides additional details.

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