The outbreak of COVID-19 has resulted in an unprecedented situation that required radical measures by governments to limit the uncontrolled spread of the virus among the population. Many jurisdictions in Europe and the rest of the world, including Luxembourg, have announced travel restrictions and the requirement of “social distancing”.

The current lock-down is an economic shock that will not go unnoticed when it comes to the profitability of businesses. In addition, the current COVID-19 crisis may have an impact on the value of assets such as participations or receivables.

While an economic crisis is never something positive, taxpayers should consider now whether there are opportunities to crystallise tax losses which may be valuable to manage the group’s overall tax position in the future.

In this webinar, we will consider how tax losses may be crystallised and used for offsetting future profits.