Tax treaty news

New double tax treaty France/Luxembourg: Update on ratification process

On 24 October 2018, during the weekly meeting of the French government, the French Minister for foreign affairs presented the bill authorising the ratification of the new double tax treaty signed by the French and Luxembourg governments earlier this year (“DTT”).

This bill will now be introduced before the French parliament.

In Luxembourg, the bill approving the DTT was submitted to the Parliament on 4 December 2018.

In light of the above, while it seems that both countries intend to ratify the DTT swiftly, a ratification within the current year should not be possible.

For more information regarding the DTT, please refer to our Tax Treaty News dated 20 April 2018.

Treaty between Botswana and Luxembourg signed

On 19 September 2018, Botswana and Luxembourg signed an income and capital double tax treaty which aims to eliminate double taxation with respect to taxes on income and wealth and prevent tax evasion and fiscal fraud. It contains the minimum standards resulting from the BEPS Action Plan and a provision for the exchange of information.

Through this agreement, Luxembourg continues to update its network of double taxation treaties in line with the anti-BEPS rules developed at OECD level.