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LUXEMBOURG
LAW AND TAX HEADLINES |
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EC Questions 9 Member States' Auditing And Accounting Compliance
03/07/2009 |
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The European Commission has decided to refer Austria, Ireland, Italy and Spain
to the European Court of Justice over non-implementation into national law of
the Statutory Audit Directive. The Commission has also decided to send formal
requests to Belgium, Ireland, Greece, Luxembourg, Poland and Portugal as they
have failed to fully implement into their national laws the latest Directive in
the field of accounting within the prescribed deadline.
FULL
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Luxembourg In Court Over Savings Tax Directive
29/06/2009
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The European Commission has announced its decision to refer Luxembourg to the European Court of Justice over its incorrect application of certain provisions of the Savings Tax Directive relating to non-domiciled residents.
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STORY
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Netherlands Welcomes ECJ Judgement On Foreign Bank Accounts
26/06/2009 |
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The Netherlands' Ministry of Finance has welcomed the European Court judgement
of June 11 in favour of the Dutch Tax Administration in two cases involving
taxpayers with money in foreign savings accounts.
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STORY |
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IMF Concludes 2009 Article IV Consultation With Luxembourg
15/06/2009 |
The IMF has concluded an Article IV consultation with Luxembourg. As a small open economy, hosting Europe’s largest investment funds, second largest money markets and many foreign-owned subsidiary banks, Luxembourg is fully exposed to the ongoing financial turmoil and global recession, reports the IMF.
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STORY
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Luxembourg and France Conclude Tax Accord
09/06/2009 |
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Luxembourg has signed a new tax cooperation agreement with France, amending their 50 year old tax treaty to allow for exchange of tax information.
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STORY |
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Luxembourg Concludes Tax Agreement With The Netherlands
08/06/2009 |
Luxembourg Minister of Budget Luc Frieden (pictured left) concluded a new tax agreement with Dutch
State Secretary of Finance Jan Kees de Jager (pictured right) on 29 May. The agreement will provide
for the exchange of information in tax matters between the two countries in
accordance with the OECD standard.
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STORY
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Vodafone Loses UK Tax Appeal
28/05/2009 |
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Mobile telecommunications giant Vodafone has suffered a court setback in its bid to avoid a UK back tax bill approaching GBP2bn (USD3.2bn) stemming from its acquisition of Mannesman in 2000.
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STORY |
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Liechtenstein To Conclude DTAA With Luxembourg
27/05/2009 |
On May 22, the governments of Luxembourg and Liechtenstein announced their
intention to enter into negotiations to conclude an OECD model convention on
the avoidance of double taxation.
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STORY
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Bahrain Inks Double Tax Treaties With Luxembourg, France
12/05/2009 |
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Bahrain last week signed conventions for the avoidance of double taxation and
prevention of fiscal evasion with respect to taxes on income with Luxembourg and
France. Both treaties provide for the exchange of information in tax matters in
adherence to the OECD standard.
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STORY |
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Luxembourg Finally Ratifies UAE Tax Agreement
11/05/2009 |
The long-awaited double tax avoidance agreement between Luxembourg and the United Arab Emirates has finally been ratified and will enter into effect on January 1, 2010. The treaty, which has been pending since it was signed on November 20, 2005, was held up by a backlog within Luxembourg’s legal body in charge reviewing laws before implementation, the Conseil d’Etat.
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STORY
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Luxembourg's Outrage At German Finance Minister's Comments
11/05/2009 |
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Fuelling the conflict within the European Union over the issue of tax havens,
remarks made – once again undiplomatically – by Germany’s Finance
Minister Peer Steinbrück, have received fierce criticism from neighbouring
Luxembourg.
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STORY |
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Luxembourg Signs New Tax Accord With US
01/05/2009 |
On April 28 Luc Frieden, treasury minister, announced that Luxembourg had reached agreement on the details of an accord with the USA to modify their 1996 Double Taxation Treaty.
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STORY
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Commission Grants State Aid To Luxembourg Insurance Firm
22/04/2009 |
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The European Commission has authorised, under the EC Treaty state aid rules, a
measure adopted by Luxembourg to limit the adverse impact of the current financial
crisis on export firms.
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STORY |
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Switzerland May Implement Sanctions Against OECD
16/04/2009 |
Switzerland may exercise its veto on various key votes within the OECD together with applying other financial sanctions aimed increasingly at Angel Gurria, the OECD Secretary-General in protest at the way he personally is applying pressure to relax bank secrecy laws and share information for tax purposes.
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STORY
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Luxembourg PM Calls For US 'Tax Havens' To Be Blacklisted
03/04/2009 |
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Luxembourg Prime Minister Jean-Claude Juncker (pictured) has suggested that US President Barack Obama should look to the 'tax havens' in his own back yard before telling the financial centres of Europe and elsewhere how they should be running their affairs.
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EC Requests Luxembourg To Comply With IP Court Judgements
24/03/2009 |
The European Commission has decided, under Article 228 of the EC Treaty, to send a letter of formal notice to Luxembourg requesting full information on its compliance with the judgement of the Court on implementation of the Directive on enforcement of intellectual property rights.
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STORY
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Luxembourg Conforms To OECD Guidelines
18/03/2009 |
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Luxembourg’s Budget and Treasury Minister Luc Frieden announced on March
13 that Luxembourg intends to conclude OECD-convention double tax treaties with
OECD member states, thereby providing for the exchange of information in cases
where there is solid evidence of the perpetration of a tax crime.
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STORY |
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OECD Welcomes Increased Tax Co-operation
18/03/2009 |
Moves by major financial centres to improve transparency and exchange of information
for tax purposes mark a significant step forward in international tax cooperation
and a welcome result of more than twelve years of OECD work reinforced by the
imminence of the G-20 summit next month, OECD Secretary-General Angel Gurria
has opined.
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STORY
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Switzerland, Austria, Luxembourg Meet Pre-G20
11/03/2009 |
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Swiss President Hans-Rudolf Merz, in his capacity as Finance Minister, met
his counterparts Josef Pröll (Austrian Finance Minister) and Luc Frieden
(Luxembourg's Finance and Justice Minister) on March 8 to discuss the forthcoming
G20 meetings on ‘tax havens’.
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Luxembourg State Aid Scheme Approved
09/03/2009 |
The European Commission has authorised a temporary scheme which will provide
flat-rate aid of up to EUR500,000 for struggling businesses in Luxembourg.
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STORY
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