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Luxembourg Reports On Results From Latest Tax Amnesty

by Ulrika Lomas, Tax-News.com, Brussels

16 January 2018


Luxembourg collected over EUR30m (USD36.7m) in unpaid taxes in 2016 as a result of a tax amnesty scheme, Finance Minister Pierre Gramegna has told parliament.

Responding to a parliamentary question, Gramegna revealed that 221 applications were filed under the amnesty scheme in 2016, with a further 68 submitted in the period from January to September 2017.

Gramegna explained that basic amount of unpaid tax received by the tax authority before a 10 percent fine was applied was EUR30.6m in 2016. Just under EUR5.7m was collected under the scheme for the nine months to the end of September 2017, a figure which doesn't include that year's 20 percent fine.

The two-year amnesty was launched on January 1, 2016, and required applicants to repay the unpaid tax, in addition to a penalty, which rose from 10 percent of the overdue amount to 20 percent in 2017.

TAGS: Finance | tax | Luxembourg | tax authority

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