20 December 2016 Luxembourg's Parliament adopts Law on tax reform 2017 The Luxembourg Parliament voted and approved draft law n°7020 on December 14, on the tax reform 2017, introducing amendments in the field of corporate and individual taxation, as well as in the field of indirect taxes. Among other things and in line with the initial draft law, the Law proposes an amendment of the existing tax scales, a limitation of the loss carryforward rules (over time) and a gradual reduction of the corporate income tax (CIT) rate. The Law also includes some additional favorable measures such as an increase of the investment tax credit rates and a new deferral of depreciation. A Tax Alert prepared by EY's Global Tax Desk Network, and attached below, provides additional details. Document ID: 2016-2169 |
