Approval by the Luxembourg government of several double tax treaties and protocols :
On 2 April 2015, the Luxembourg government approved the double tax treaties with Andorra, Croatia, Estonia, Singapore and the protocols to the tax treaties with Mauritius, Lithuania, Ireland, United Arab Emirates and Republic of Tunisia. The Luxembourg government also approved the amending protocol to the France-Luxembourg double tax treaty of 1 April 1958, signed on 5 September 2014. The new treaties and the protocols shall be submitted swiftly to the Parliament for ratification.
Hungary
On 10 March 2015, a new double tax treaty between Hungary and Luxembourg was signed in Brussels. The new treaty will replace the actual Hungary-Luxembourg double tax treaty of 15 January 1990. We will report on details of the new treaty in one of our next issues.
Uruguay
On 10 March 2015, a double tax treaty between Uruguay and Luxembourg was signed in Brussels. The key features of this new treaty will be analysed in one of our next issues.
The new double tax treaty with Uruguay is part of the Luxembourg government’s desire to increase its business relations with Latin America. Luxembourg currently has only double tax treaties with Brazil and Mexico in this region.
Since November 2014, Luxembourg for finance (“LFF”) and the Association of the Luxembourg Fund Industry (“ALFI”) have published several articles on their websites on the increase of business opportunities in Latin America. In this context, the Luxembourg Chamber of Commerce organised a business opportunities day in April 2015 in order to help Luxembourg investors to develop their businesses in Latin America and explain the available opportunities in each market (notably Uruguay, Cuba, Chili, Colombia, Mexico, and Argentina). ALFI will also organise a Latin America roadshow between 5-8 October 2015 in order to promote Luxembourg investment funds in Peru and Colombia.
