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European Commission Forecast: Economic Growth Expected For The Next Two Years

Written by: Editor

European-Commission-Forecast-Economic-Growth-Expected-For-The-Next-Two-Years.jpgThe European Commission (EC) has recently announced that Luxembourg’s economy will continue to grow in the following two years. The same forecast was issued for other European economies as well, thus investors who want to open a company in Luxembourg can expect positive results for their businesses. Our team of specialists in company formation in Luxembourg can offer an in-depth presentation on the legislation applicable to various economic fields in which the investors are interested in. 

 

Economic growth in Luxembourg 

 
It is important to know that the Luxembourg economy will increase in 2017 and 2018 by almost 4%, showing a solid increase. Foreign businessmen who are interested in company formation in Luxembourg can find a reliable workforce to be employed in their companies and, in this sense, we mention that the EC’s projections show that the employment will grow. The unemployment level is expected to decrease only on a marginally basis. 
 
Luxembourg applies a new tax reform starting with 2017, and the projections show that the reform will have positive effects on the local economy. The new tax reform addresses to both natural persons and legal entities and our team of company formation agents in Luxembourg can offer more details on this matter. 

 

Tax reform in Luxembourg  

 
One of the main points of the tax reform should be of interest for foreign investors who are interested in company registration in Luxembourg, as the corporate tax rate was lowered. The corporate tax was reduced at 19% and it is applicable in 2017, while in 2018, the corporate tax will be imposed at the rate of 18%. 
 
Another relevant aspect which should concern businessmen refers to the corporate tax rate applicable to companies which have a taxable income below EUR 25,000. Such companies will benefit from a corporate tax rate of only 15%. 
 
Most of the documents attesting legal aspects, contracts, statutory documents and so on have to be drawn in front of a public notary in Luxembourg. The parties are liable to paying the notary fees, established in accordance with the respective documents. In this sense, the new tax regulations specify that, in the case of notarial deeds referring to the transfer of debt agreements, the registration duty, imposed at the rate of 0.24%, will no longer be applicable. 
 
Businessmen interested in finding out more details on the above mentioned subjects are invited to contact our team of company formation consultants in Luxembourg
 
 

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