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Today’s Top Headlines

Luxembourg Praised For Adopting International Tax Standards

by Ulrika Lomas,, Brussels

10 March 2017

Luxembourg should seek to widen the tax base while ensuring that its corporate tax regime continues to meet international best standards, says the International Monetary Fund.

It said that the country could improve its reputation by "promptly transposing" the EU's Anti-Tax Avoidance Directive into national law and continuing to implement proposals from the OECD's Base Erosion and Profit Shifting (BEPS) initiative.

The Fund said Luxembourg should widen its corporate tax base and ensure "that special tax regimes and transfer pricing arrangements are aligned with evolving international standards, while lowering statutory corporate tax rates in a revenue neutral manner."

Luxembourg should also consider revisiting the low real estate valuation tax bases and enhance environmental taxes, the IMF said.

TAGS: tax | law | International Monetary Fund (IMF) | Luxembourg | transfer pricing | tax rates | G20 | standards | Tax | BEPS

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