Tuesday, December 31, 2019
On December 19, 2019, Luxembourg's Chamber of Deputies approved the Government's Budget for 2020, which among other measures includes important changes to the validity of advanced tax rulings.
Under the Budget law, all advanced tax rulings issued to companies and individuals prior to January 1, 2015, when the tax ruling procedure was codified, are cancelled. This measure is effective from the end of the 2019 tax year.
The other main tax changes in the 2020 Budget include: