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 directors receiving bonuses in Luxembourg
As of 1 January 2017, company directors receiving bonuses in Luxembourg will have to register with the tax authorities.
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.