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Luxembourg, Germany Add Information Exchange Protocol To DTA

by Ulrika Lomas, Tax-News.com, Brussels

15 December 2009


On December 11, 2009, Luxembourg’s Finance Minister, Luc Frieden, and his German counterpart, Wolfgang Schäuble, signed a protocol amending the double tax agreement (DTA) between the two countries.

The DTA, which prescribes the two countries' taxing rights with regards investors in the respective countries, was amended to include tax information exchange protocols, in line with the OECD standard. The amendment will allow the two countries' tax authorities to request information pertaining to tax crimes, and in civil tax matters.

Negotiations towards the DTA revision were rapid, with the two ministers agreeing upon provisions to be included in the agreement in November, shortly after the formation of the new German government.

After signing the treaty, Frieden said that signing the treaty was far more than agreeing an amendment to the DTA – rather, it was a symbol of continued friendship between Luxembourg and Germany, and he emphasized the importance of the relationship between the two countries.

Frieden announced that the text would soon be tabled in Luxembourg's parliament, alongside similar agreements agreed with other nations, for enactment no later than March 2010.

A comprehensive report in our Intelligence Report series, examining in depth the situation of offshore transparency and secrecy in a number of the most prominent jurisdictions, is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report2.asp

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