Luxembourg Lower House Considers Bill to Amend Various Tax Laws for Individuals, Businesses

The Luxembourgish Parliament (Chambre des Deputes) July 17 accepted for consideration Bill No. 8414, to amend various tax laws for individuals and businesses. The bill includes measures to: 1) adjust the individual income tax scale by 2.5 additional index brackets, applicable from tax year 2025; 2) increase the single-parent tax credit to 3,504 euros (US$3,813) from 2,505 euros (US$2,726); 3) increase the partially tax-exempt participatory bonus to 30 percent from 25 percent regarding the gross amount of an employee’s annual remuneration before incorporating benefits in cash and in kind; 4) provide an overtime tax credit (CIHS), limited to 700 euros ...