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Generic Tax Name Withholding tax on savings (for other EU nationals)
Tax name in the national language Retenue à la source sur les revenus sous forme de paiement d'intérêts (non-résidents provenant d'un autre Etat membre de l'UE)
Tax name in English Withholding tax on savings
Member State LU-Luxembourg
Tax in force since 2005/06/21
If abolished, date on which the tax ceases to apply
Business version date 2015/01/01
Version date 2015/02/17
This file was last updated on

Type of tax
Direct taxes Personal income tax
Corporate income tax
Other

Indirect taxes VAT
Excise duty (EU harmonised)
Alcoholic beverages
Energy products and electricity
Manufactured tobacco
Other

Social security contribution Employers
Employees
Other
 
Legal base

Law of 21 June 2005 transposing into Luxembourg Law the directive 2003/48/EC of 3 June 2003 on taxation of savings income in the form of interest payments (Mémorial A, N°86, 22 June 2005, page 1540).

 
Who sets
The tax rate is set by




The tax base is set by




The reliefs are set by




Comments
 
Beneficiary





Comments

75% of the tax receipts are shared with other Member countries while 25% of tax receipts go to the Luxembourg budget.

 
Geographical Scope

Luxembourg.

 
Taxpayers

Fiscal residents of other EU Member States.

 
Tax object and basis of assessment

Interest payments of different types

  • those paid to the beneficiaries or figuring in their bank account;
  • those accrued or capitalized at the moment of a sale, a redemption or a reimbursement of an asset generating interest payments;
  • those generated by UCITS governed by Directive 85/611/EEC;
  • those generated by an undertaking of collective investments not belonging to the EU territory where the Treaty on the European Union is applicable via article 299;
  • those paid at the moment of a sale, a redemption or a reimbursement of an asset which is part of a UCIT governed by Directive 85/611/EEC or an undertaking of collective investments not based on the EU territory where the Treaty on European Union is applicable via article 299, where these vehicles realize at least 40% of their investments in entities or organisms generating interest.
 
Deductions, Allowances, Credits, Exemptions

There are two types of exceptions:

  • the economic beneficiary expressly allows data on the interest payment received to be communicated;
  • the economic beneficiary gives to the paying agent a certificate from his home tax authority establishing the non-payment of interest (model 911).
 
Rate(s) Structure

 Rate is 35% from 01/07/2011.

 
Tax due date

Tax referring to a particular fiscal year (ending on 31 December) is due by 20 March of the following year; penalties are foresen if this is not the case.

 
Tax collector

Administration of Direct Taxes (Administration des Contributions Directes).

 
Special features

 
Economic function







Comments
 
Environmental taxes



Comments
 
Tax revenue
ESA95 code d51ag

Year
Annual tax revenue (millions)
Currency
Tax revenue as % of GDP
Tax revenue as % of total tax revenue
2012 47.00 EUR 0.11
2011 43.00 EUR 0.10
2010 43.00 EUR 0.11
2009 41.00 EUR 0.11
2008 58.00 EUR 0.15
2007 51.00 EUR 0.14
2006 42.00 EUR 0.13
2005 12.00 EUR 0.04

Comments