The European Commission has announced on 19 July 2006 that the Holding 1929 regime violated EU state aid rules (article 87 EC Treaty) and distorted competition and that the regime must be cancelled by the end of 2010. The Luxembourg government (and more in particular M. Luc Frieden, Minister of Justice) stays confident…
Corporate & Tax
9 August 2006
Abolishment of net worth tax – final withholding tax of 10%
Abolishment of net worth tax The law of 21 June 2005 provides for the abolition of net worth tax for individuals as of 1 January 2006. This is an important change in the law, as previously Luxembourg tax authorities applied a 0,5% net wealth tax on individuals. This abolishment is certainly interested for foreign individuals…
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