Luxembourg collects unpaid taxes from recent tax amnesty
Luxembourg has collected over EUR30mln (approx. $36.7mln) in unpaid taxes in 2016 as a result of a tax amnesty scheme, Finance Minister Mr Pierre Gramegna has told parliament.
Reacting to a parliamentary question, Mr Gramegna exposed that 221 applications were filed under the amnesty scheme in 2016, with a further 68 submitted between the months of January to September 2017.
Mr Gramegna explained that basic amount of unpaid tax received by the tax authority before a 10% fine was applied was EUR30.6mln in 2016. Just under EUR5.7mln was collected under the scheme for the 9 months to the end of September 2017, a figure which doesn’t include that year’s 20% fine.
The 2-year amnesty was launched on the 1st January, 2016, and required applicants to repay the unpaid tax, in addition to a penalty, which rose from 10% of the overdue amount to 20% in 2017.
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