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Luxembourg passes bilateral tax pact with Taiwan

Staff writer |
Luxembourg’s parliament approved an agreement with Taiwan to avoid double taxation and prevent fiscal evasion, according to the Ministry of Foreign Affairs.

"The law, scheduled to take effect Jan. 1, 2015, is a milestone in efforts to establish a friendly business environment and fair taxation practice as well as to boost bilateral investment between the two countries," the MOFA said.

This is the 27th comprehensive pact regarding double taxation avoidance Taiwan has signed with other countries. In the EU, Luxembourg is the 12th country that has concluded such an agreement with Taiwan. Other European countries include Belgium, France, Germany and the U.K. The earliest deal sealed and taken effect was with Macedonia in 1999.

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