by Eline Delerue and Hannelore Durieu
The Minister of Finance of Luxembourg has recently announced some fiscal changes to corporate taxation. As from 2017, the current corporate tax rate of 21% would be decreased to 19%. In 2018 this percentage would decrease further to 18%. Luxemburg aims to increase its competitiveness with respect to other European countries.
Furthermore, SMEs would be able to apply the 15% rate if their maximum turnover does not exceed 25,000 euros. Report has it that the financing of these measures would be achieved through limitation of losses carried forward.
It remains to be seen whether Belgium will be inspired by this or not?
In our opinions, we rely on current legislation, interpretations and legal doctrine. This does not prevent the administration from disputing them or from changing existing interpretations.