An overview by ATOZ Tax Advisers, Taxand Luxembourg
On 19 July 2023, the Luxembourg Parliament voted to ratify the new double tax treaty between the UK and Luxembourg. As the UK has already ratified this treaty, it’s anticipated to come into force this year, with the new provisions becoming effective from 2024.
This new treaty, along with an additional Protocol, will replace the 1967 Double Tax Treaty. Aligned with the latest OECD tax standards, it goes beyond the measures introduced by the Multilateral Convention to Prevent Base Erosion and Profit Shifting. Notably, the most significant change in this treaty relates to the taxation of Luxembourg entities with real estate investments in the UK.
Romain Tiffon and Marie Bentley, of ATOZ Tax Advisers, our member firm in Luxembourg, present an overview of the new provisions that will be applicable for both Luxembourg and the UK.
Read the complete overview here.
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