Protocol between Luxembourg and Spain amending the double tax treaty

On the sidelines of the European Council of Finance Ministers (Ecofin) meeting, an amendment to the existing bilateral double taxation agreement in place between Luxembourg and Spain has been executed by the Luxembourg Minister of Finance and its Spanish opposite on 10 November 2009.
In accordance with the OECD standard, the protocol provides for an exchange of information in specific cases between the respective tax authorities.
Such protocol is very important for the development of the international activities of Luxembourg's financial center, and notably its investment fund sector:  Luxembourg will no longer be considered as a tax haven according to the royal Spanish decree which define tax havens.