Luxembourg:
Unconstitutionality Of The Minimum Net Wealth Tax Regime For Companies Holding Predominantly Financial Assets
To print this article, all you need is to be registered or login on Mondaq.com.
On 10 November 2023, the Constitutional Court concluded that the
minimum net wealth tax regime for companies
holding predominantly financial assets is
unconstitutional (n° 00185).
As a consequence, a legislative reform of the
minimum net wealth tax regime is to be expected.
Pending the reform, taxpayers
subject to minimum NWT applicable to companies considered as
SOPARFIs for minimum NWT purposes should be
subject to the minimum NWT applicable to
Non-SOPARFIs whenever this is more favourable. In
the light of this decision, actions to be taken
should be analysed on a case-by-case basis.
The facts leading up to the reference for a preliminary ruling
as well as the Court's reasoning are set out here.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Tax from Luxembourg
Tax Saving Tips For Your Cyprus Company
McMillan Woods
Cyprus has an extensive network of double tax treaties with various countries, which can help in reducing or eliminating double taxation. Take advantage of these treaties to minimize your tax liabilities.
Tax Facts 2024
Highworth
Highworth (Cyprus) Ltd, a trusted leader in financial services, proudly presents the Tax Facts of 2024.
Green Tax Incentives - Increase In Capital Allowances
KPMG in Cyprus
Following the publication in the Government Gazette on 12 April 2024 of Law N.45(I)/2024, increased capital allowances will be granted on capital expenditure incurred during the tax years 2023-2026 ...