Luxembourg's tax reforms and the fight against aggressive tax schemes

While Luxembourg is one of the smallest EU Member States in terms of size and population, it is a major European and global financial hub, which plays a key role for investment flows across the EU and provides banking and insurance services to businesses and households. At the same time, Luxembourg has been criticised for its corporate tax framework, which businesses or high net-worth individuals may be employing for abusive tax purposes. In particular, following on from the 'Luxleaks' files, which provided insight into more than 500 tax rulings that had been issued to large companies, Luxembourg has undertaken several reforms to counter aggressive tax planning at national, EU and OECD level.