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Luxembourg has signed a protocol to its double taxation convention with Norway, bringing to 12 the number of agreements it has on exchange of information for tax purposes.
Luxembourg has today signed a protocol to its double taxation convention with Denmark. The protocol, which allows exchange of bank information for tax purposes, brings the convention up to the OECD standard.
Luxembourg has signed an agreement for the exchange of bank information on request in all tax matters with the U.S., marking a major step forward in international efforts to counter tax evasion.
A protocol to the existing Bahrain-France Convention for the Avoidance of Double Taxation was signed today in Paris.
Luxembourg is today one of the main international centres for investment funds. Besides the sector’s direct and indirect employment effects, the most important effect is the large tax revenue generating capacity of the sector, accounting directly for over 20% of aggregate tax revenues.