| BEFORE 2015 |
NEW MEASURES AS OF 1 JANUARY 2015 |
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| CORPORATE INCOME TAX | ||
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Tax holidays |
Abolition of the right of the Ministry of Finance to grant tax holidays to certain persons establishing their fiscal residence in Luxembourg |
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Minimum corporate income tax |
EUR 3.210 for companies if more than 90% of balance sheet are financial assets |
EUR 3.210 for companies if more than 90% of balance sheet are financial assets and they exceed EUR 350.000 |
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EUR 535 to 21.400 for other companies |
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| ADVANCE TAX AGREEMENTS | ||
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Advance Tax Agreement procedure |
ATAs are approved by tax inspector based on an administrative practice. |
Introduction of a ATA Commission and legal formalization of the process. |
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ATAs are valid for a maximum period of 5 years |
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Administrative fee from EUR 3.000 to EUR 10.000 |
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Annual publication of ATA summaries on a no name basis |
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| NET WEALTH TAX | ||
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Computation of the NWT basis |
Every 3 years |
Yearly |
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NWT reduction |
Reduction in year N for NWT limited to CIT due for year N |
Reduction in year N for NWT limited to CIT due for year N-1 |
| VAT | ||
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Increase of VAT rates |
Standard rate: 15% Intermediary rate: 12% Reduced rate: 6% |
Standard Rate: 17% Intermediary rate: 14% Reduced rate: 8% |
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Super-reduced rate unchanged: 3% |
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Place of taxation of B2C e-commerce services |
Place of taxation of services was the place of establishment of the service provider |
Place of taxation is the EU Member State where the customer is established / domiciled |
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New reimbursement procedure for VAT receivables |
Refund of the VAT on an annual basis, once the yearly VAT return has been filed and assessed |
Possible periodic VAT refunds including default interest payments in favour of the VATpayers with respect to their legitimate VAT recovery claims |
| INDIVIDUAL TAX LAW | ||
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Budget balancing tax |
Introduction of a 0,5% tax on professional income (in principle temporary) |
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