On 22nd May 2008, Luxembourg's Prime Minister, Jean-Claude Juncker, presented to Parliament the 2008 statement on the country's economic, social and financial situation.
In his speech, the Prime Minister announced several planned taxation reforms, aimed at further enhancing Luxembourg’s competitiveness on corporate taxation.
After reducing the capital duty from 1% to 0.5% on 1st January 2008, the government has decided to abolish it altogether as from 1st January 2009, he revealed.
Initial capital contributions as well as subsequent increases in capital will no longer be subject to capital duty.
In addition to this, Juncker announced that the corporate tax rate will be reduced progressively from 29.63% to 25.5% and that legislation to this effect would be passed during the last year of the present government. New elections are due in June, 2009.
The government has also decided that income tax brackets for personal income tax will be increased by 6% in 2009.
.
Network Tweets Archive
| Resources | Partners
| Site Map | Links
| Newsletter
Archive | Contact
| RSS Feeds
About | Syndication |
Advertising & Marketing |
Recruitment |
Terms & Conditions |
Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
All content provided by BSI Media
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment