Only one month left to reduce 2018 net wealth tax liability

Luxembourg corporate taxpayers can, upon request and under certain conditions, benefit from a reduction of the Luxembourg net wealth tax (NWT). One of the conditions to benefit from the NWT reduction is the allocation of an amount corresponding to five times the NWT reduction claimed to a special NWT reserve to be created in the balance sheet. To benefit from a 2018 NWT reduction, taxpayers will have to make the allocation prior to the end of 2018. Therefore, now is the time for them to determine whether they meet the conditions to benefit from the reduction, compute the amount of the reduction they may request and take the necessary steps to make an appropriate allocation to the NWT reserve on time.