Luxembourg MOF Announces Various Tax Measures Under New Tax Relief Package for Individuals, Businesses

The Luxembourgish Ministry of Finance July 17 announced various tax measures under a new tax relief package for individuals and businesses. The tax relief package includes measures to: 1) adjust the individual income tax scale by 2.5 additional index brackets, applicable from Jan. 1, 2025; 2) increase the single-parent tax credit to 3,504 euros (US$3,815) from 2,505 euros (US$2,728); 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 a tax credit, limited to 700 euros (US$762) per ...