Luxembourg Global Minimum Tax Rules Sent for Parliament Approval

Luxembourg government has moved to the next stage of implementing global minimum tax rules into domestic law.

The government approved a legislative proposal and sent it to the parliament for consideration July 28. The proposal is expected to arrive in the Chamber of Deputies in the coming days, according to a Friday finance ministry statement.

It implements the so-called Pillar Two of the OECD-led global tax agreement—a mechanism designed to ensure that the largest multinational companies are taxed at a rate of at least 15%.

The government’s July 28 decision underlines Luxembourg’s “commitment to tax fairness and the establishment ...