New tax measures in budget bill no. 7666 for 2021
Here are the comments of our tax specialists at PKF Audit & Conseil following the announcements of the Luxembourg Minister of Finances, Pierre Gramegna, on Wednesday 14 October 2020.
Luxembourg tax updates Q3 2020
Please find below a summary of the main Luxembourg tax updates for the third quarter 2020.
IFRS 2019 Update : New Financial Reporting Standards effective from 1 January 2018
We provide an overview of IFRS 9 and IFRS 15 : what they mean, major changes you should be aware of, how you might be affected and how we can help.
Minimum wage increase
Following a government decision in December 2018, the minimum wage (Salaire Social Minimum – SSM) has increased by €100.00 net with retroactive effect from 1 January 2019.
Tax Information – Deductions in Luxembourg
Our "Small Quick guide to tax deductions in Luxembourg" is intended to help anyone who has to submit a tax return to Luxembourg to better anticipate their situation.
PKF International welcomes AFC and PKF Audit & Conseil as new member firms in Luxembourg
PKF International Limited has strengthened its global coverage with the admission of AFC and PKF Audit & Conseil as new member firms in Luxembourg.
Information on the annual statement
All workers, even non-Luxembourg residents, can benefit from tax deductions in Luxembourg when they file a tax return (100F form, for example). However, where employees are not required to file a tax return, they may reclaim tax withheld by another means: a form known as an annual statement, or décompte annuel (163RF or 163NRF)
Corporate update – What’s new in 2018
A law enacted on 15 December 2017 has introduced major changes to certain types of extraordinary leave, leave for family reasons and post-natal maternity leave.
The single-parent tax credit (CIM) in Luxembourg
Following new circular no. 154 ter/1 L.I.R. of 7 April 2017 regarding the single-parent tax credit (CIM), the eligibility criteria have been amended.
Final instalment of the Belgian saga of tax-free exemptions for dependent children – At last, a circular!
Circular 2017/C/31 of 18 May 2017 specifies how to calculate the increase in tax allowance for dependent children in the presence of foreign professional income.
New obligations for the professions in Luxembourg
As of 1 January 2017, self-employed persons with an annual turnover greater than EUR 100,000 will have to practise double-entry bookkeeping.
New obligations for directors receiving bonuses in Luxembourg
As of 1 January 2017, company directors receiving bonuses in Luxembourg will have to register with the tax authorities.