Luxembourg to provide the European Commission with information on tax transactions, rules and benefits

Luxembourg to provide the European Commission with information on tax transactions, rules and benefits

On 18 Dec 2014 the Parliament of Luxembourg has informed the European Commission on its commitment to give information on tax transactions made with international corporations as well as on current tax rules and benefits.

Such decision has been made in light of the Commission’s intention to conduct a tax investigation in all European Union member states in order to verify the current tax rules and benefits. 

In addition, the parliament has passed a series of laws aimed at ensuring a more transparent tax system in the country and a number of measures to ensure the annual publication of information on tax rules and benefits.

Such situation is because of the previously happened in the beginning of the year 2013 tax scandal among some international companies accused of evading taxes by registering their units in Luxembourg, Ireland and the Netherlands.

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