Revision of corporate exit tax rules
By Laurent Mahaux and Bilal Ajabli
The Luxembourg Parliament has adopted, on 13 May 2014, the law (bill 6556) amending some tax provisions concerning the area of so-called ‘exit tax’ in order to make the exit taxation compliant with EU law. The European Court of Justice (ECJ) held in the National Grid case (C-371/10) that EU law precludes legislation of a member state that prescribes — such as previous Luxembourg law — the immediate recovery of tax on unrealised capital gains relating to assets of a company transferring its place of effective management to another member state at the time of the transfer…
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News from Wildgen
Briefings from Wildgen
In 2014 five entities of the Luxembourg holding structure of the Banco Espirito Santo Group had their fate in the hands of the judges of a Luxembourg Court. All have been declared bankrupt.
Luxembourg tax changes update.