Luxembourg on the white list

Luxembourg on the white list

Twelve double taxation treaties signed

“This is a great day for the Luxembourg Financial Centre”, the Luxembourg Minister of the Treasury, Luc Frieden, announced at a press conference on 8 July 2009. As from that day, Luxembourg is no longer on the so-called grey list of countries that have not substantially implemented the internationally agreed OECD-tax standard. Having signed a protocol amending its double tax treaty with Norway, Luxembourg has brought to 12 the number of agreements that comply with the OECD standard convention, thus qualifying the Grand Duchy to appear on the white list. Mr Frieden has made the signing of these agreements a political priority. “Our aim was to sign the agreements with important partner countries in a short period of time”, he added. Indeed, in a record time of only 7 weeks, Luxembourg has become the first European country to be removed from the OECD grey list. Mr Frieden is particularly delighted that Luxembourg has disappeared from a list on which it never should have appeared in the first place. In his opinion, the image of a tax haven depicted in the international press does not reflect reality.

Click here to download the OECD press release and the OECD Progress Report

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