By Vincent QUITTRE, Counsel, Tax at Dentons Luxembourg
The Grand Duchy of Luxembourg and the United Kingdom of Great Britain and Northern Ireland (the “UK”) signed a new treaty for the elimination of double taxation with respect to taxes on income and on capital and the prevention of tax evasion and avoidance on 7 June 2022 (the “New Treaty”). A new treaty was overdue to consider Brexit and certain BEPS (base erosion and profit shifting) actions initiated by the OECD.
The New Treaty will enter into force on 1 January 2024 for Luxembourg and UK withholding taxes as well as for all other Luxembourg taxes(1) and will replace the previous treaty in force between the two jurisdictions (the...
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