Luxembourg has signed a new tax cooperation agreement with France, amending their 50 year old tax treaty to allow for exchange of tax information.
Luxembourg Finance Minister Luc Frieden said he hoped to sign 15 taxation accords by the end of 2009 that meet OECD standards on information exchange. Luxembourg signed up with the United States, Bahrain and the Netherlands in May. "We welcome this signature with the enthusiasm that goes with implementing the G20's decisions," French Economy Minister Christine Lagarde told reporters after signing the deal, "I am unable to say how many hundreds of thousands, perhaps millions, of euros we shall recover as a result, but we shall recover all we can", she vowed.
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