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Fiscal Affairs Committee

The Fiscal Affairs Committee deals with tax matters that are relevant to the Luxembourg financial community. Banks in Luxembourg, as businesses and employers, generate a substantial portion of public revenue. Several ABBL members are amongst the nations top taxpayers. In the context of increasing regulatory and operational costs, the effective level of taxation for financial institutions needs to remain stable and predictable.

Priorities

The involvement of banks in tax processes has increased significantly over the last decade. Tax authorities rely extensively on financial institutions for the purpose of tax collection and the reporting of tax-related information. The Committee’s priority is to ensure that relevant standards and regulations remain proportionate and can be implemented in a costeffective manner. The ABBL consistently advocates for a genuine level-playing field in the area of tax transparency so as to ensure that the underlying regulations do not constitute a source of competitive distortion.

Related Working Groups

  • Corporate Taxation (Working group)
  • Human Resources Taxation (Working group)
  • Investment Income (Working group)
  • Tax Reporting Standards (Working group)
  • VAT (Working group)