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18 October 2021

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Luxembourg Budget Bill for 2022 Presented in Parliament

On 13 October 2021, Luxembourg's Ministry of Finance presented the Budget Bill for 2022 (Bill 7878) in parliament. While there are no major tax changes, there are a few measures of note, including:

  • The introduction of lump-sum taxation with a rate of 10% on employment income received by temporary workers, subject to certain conditions including that payments do not exceed EUR 25 per hour;
  • The extension of the 15% income tax credit for previously unemployed individuals to 31 December 2023;
  • Amendments to clarify the definition of the expression "consolidated group for financial accounting purposes" in relation to the EU Anti-Tax Avoidance Directive (ATAD) interest limitation rules, providing that consolidated group for financial accounting purposes is a group composed of all the entities that are fully integrated into consolidated financial statements prepared in accordance with International Financial Reporting Standards or the national financial reporting standards of a Member State;
  • Amendments to exclude UK companies from tax provisions concerning EU/EEA Member State as a result of Brexit, where needed, including in relation to certain provisions governing the implementation of the EU Parent-Subsidiary Directive.

Additional details will be published once available.

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