August 2010
New Luxembourg Tax Measures for Individuals and Companies to be Introduced as from 2011
Certain new tax measures for both individuals and companies have been proposed in Luxembourg in a move to counter the impact of the economic and financial crisis. These changes follow the submission of a draft law (Projet de loi N° 6166) to the parliament on 30 July 2010 by the Minister of Finance and subject to enactment, are due to take effect as from January 2011. They will apply to financial years closing during the course of 2011, excluding the disallowance of severance payments and leaving bonuses, the latter of which will remain entirely deductible insofar as they have been allocated before 1 January 2011. The memo which can be accessed below provides an outline of the proposed changes.
By Frédéric Feyten & Caroline Bormans
