Filter insights by:
Grant Thornton Luxembourg June Data Protection Newsletter - We share clear and practical insights on the latest developments in data protection, AI, and tech regulation, helping you stay informed and compliant in this ever-changing digital landscape. Whether you manage compliance or simply want to stay safer and better informed online, this newsletter is for you.
Luxembourg companies that prepare their annual accounts in a foreign currency may be exposed to foreign exchange (FX) risk for tax purposes. Such risk could be mitigated by submitting a timely request to report the taxable income in this foreign currency.
Take control of your tax obligations and discover new opportunities. Thanks to our innovative tool, adapt your Tax Calendar 2026 to your needs and meet your tax deadlines efficiently with Grant Thornton Luxembourg.
The Luxembourg Parliament adopted on 18 October 2022 the bill of law number 6539B (the Law) introducing the administrative dissolution without liquidation procedure (the Administrative Dissolution Procedure). The purpose of the Law is to implement a collaboration between the Public Prosecutor and the Luxembourg Trade and Companies Register (the RCS) in order to dissolve dormant and empty shell companies in a more time- and cost-efficient way by avoiding the formal judicial liquidation procedure.
On 12 October 2022, the 2023 draft budget law no. 8080 (‘‘Draft Budget Law‘‘) was introduced to the Luxembourg Parliament. Due to the current economic situation, no substantial tax reforms have been proposed. On the same day, a drop in VAT rates was proposed by the draft law no. 8083 (“Draft VAT Law”). Moreover, draft law no. 8082 (“Draft RE Law”), introducing changes to the taxation of real estate, was filed with the Luxembourg Parliament on 10 October 2022. Learn more
The preparation of financial statements in accordance with International Financial Reporting Standards (IFRS) is challenging. Each year, new Standards and amendments are published by the International Accounting Standards Board (IASB) with the potential to significantly impact the presentation of a complete set of financial statements.
On 4 May 2022, the Luxembourg tax authorities (“LTA”) published revised guidance (the “Revised Guidance”) relating to the law dated 25 March 2020 (the “DAC 6 Law”) in the form of Frequently Asked Questions. The Revised Guidance contains clarifications relating to certain concepts present in the DAC 6 Law.
The Energy Tax Credit is a measure introduced by the Chamber of Deputies from July to compensate the postponement of the index and thus supporting households to face the soaring prices of energy.
In terms of fiscal measures, the exceptional Covid-19 measures put in place through mutual agreements with the border countries to enable homeworking have ended on 30 June 2022. From a fiscal point of view, the tolerance threshold of days worked abroad for non-resident employees is fixed from July 2022.
On 13 June 2022, a Draft Bill (the “Bill”) implementing the Council Directive (EU) 2021/514 into domestic law was presented to the Luxembourg Parliament. It is the 7th installment of the so-called Directive on Administrative Cooperation in the field of taxation and is most commonly referred to as DAC 7. The Bill sets out numerous obligations to certain digital platform operators stipulating reporting requirements and setting out compliance standards. The proposed measures are to be applicable as from 1 January 2023.
On 7 June 2022, Luxembourg and the United Kingdom (’’the UK’’) signed a protocol in order to amend the existing double tax treaty between these jurisdictions. The new treaty introduces a reduction on the withholding tax rate on dividend payments and royalties, as well as the so-called ‘’land rich clause’’ relating to capital gains arising from the sale of shares holding, directly or indirectly, immovable property.
With this newsletter, Grant Thornton Luxembourg would like to draw your attention to the first amendments to the proposal for a directive relating to the prevention of the misuse of shell entities (the “Anti-Tax Avoidance Directive III” or ‘’ATAD III’’) published on 12 May 2022.
From reporting periods starting 2024 onwards, the Corporate Sustainability Reporting Directive (CSRD) will require all large companies to report on sustainability policy and performance.
Le Rapport d’Analyse de Risques et le Rapport Descriptif doivent être soumis à la CSSF dans les 7 mois après la date de clôture et décrivent la situation du PSF de support sur l’année fiscale qui vient de s’écouler, comme stipulé dans les Circulaires CSSF 12/544 et 19/727.
The new index comes into force on 1 April 2022, resulting in a 2.5% increase in wages, salaries and pensions.
CSSF has released a new Circular on 14 October for IT/Cloud Outsourcing. This new Circular replaces the prior authorisation requirement with a prior notification requirement in the event of outsourcing material activity but not business process outsourcing.
Welcome to the 18th round of our annual research on the position of women in senior management across the world, and the progress towards gender parity in leadership.
Our experts help both Luxembourg residents and cross-border commuters to optimise their tax situation by making the right decisions and accompanying them through the administrative procedures.