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Luxembourg To Abolish Additional Income Tax

by Ulrika Lomas, Tax-News.com, Brussels

16 September 2015


Luxembourg's Minister of the Economy, Étienne Schneider, has announced the abolition of the temporary additional income tax.

The additional tax, at a rate of 0.5 percent, is levied on all salaries above minimum wage. It was introduced from January 1, 2015 as a budget-balancing measure. It was an emergency measure made necessary by delays in the introduction of a general package of tax reforms.

Schneider said in a radio interview with RTL that work on tax reform is now progressing and Luxembourg's economy is recovering. He therefore intends that the temporary tax will be withdrawn from January 1, 2017.

TAGS: tax | economics | fiscal policy | employees | budget | Luxembourg | tax rates | tax reform | individual income tax

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