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Luxembourg: Selected Issues

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  • International Monetary Fund

Abstract

This Selected Issues paper considers features of the Luxembourg tax system that may be susceptible to changes in international tax transparency standards and surveys related policy options. Luxembourg’s predictable and generally low-rate tax system has helped establish it as a leading financial and commercial entrepôt and has supported its fiscal revenues. Its revenue base could, however, be susceptible to changes in the European Union and global tax environment. This paper highlights that to address potential challenges to Luxembourg’s revenue base, the tax policy review should explore selective rate increases and base broadening measures. Moreover, the tax practices should seek to avoid encouraging unnecessary complexity in corporate ownership structures and intragroup financial contracts.

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  • International Monetary Fund, 2015. "Luxembourg: Selected Issues," IMF Staff Country Reports 2015/145, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2015/145
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    References listed on IDEAS

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    1. Saunders, Anthony, 1994. "Banking and commerce: An overview of the public policy issues," Journal of Banking & Finance, Elsevier, vol. 18(2), pages 231-254, January.
    2. Vander Vennet, Rudi, 2002. "Cost and Profit Efficiency of Financial Conglomerates and Universal Banks in Europe," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 34(1), pages 254-282, February.
    3. Mr. Ashok Vir Bhatia, 2011. "Consolidated Regulation and Supervision in the United States," IMF Working Papers 2011/023, International Monetary Fund.
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