PE information brief

The OECD has, on July 8, 2009 (only 3 months after the famous G-20’s London summit that originated the “grey list” of jurisdictions) included Luxembourg back on “white list”, recognising Luxembourg’s rapid progress on updating its extensive treaty network with the agreed tax standard on exchange of information. This reinforces Luxembourg’s position as a well established and internationally respected jurisdiction with stable and business friendly political environment, whilst bank secrecy nevertheless continues to exist in Luxembourg as an instrument used to protect privacy. In this respect, a draft law concerning some practical aspects on the exchange of information is currently under discussion, and is expected to be voted before year-end.

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