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Luxembourg parliament approves tax treaty

TAIPEI--An agreement signed by Taiwan and Luxembourg on avoiding double taxation and preventing tax evasion was approved by Luxembourg's parliament Wednesday and will take effect on Jan. 1, 2015, the Ministry of Foreign Affairs said in a statement Friday.

The agreement was signed by the Taxation Agency of Taiwan's Ministry of Finance and the Direct Tax Administration of Luxembourg on Dec. 19, 2011, the statement said.

According to Luxembourg's regulations, the pact, having been approved by the parliament, will now be submitted to Grand Duke Henri for his signature before it is promulgated, the statement said.

In Taiwan, all legal procedures related to the pact have been completed, according to the MOFA statement.

This is the 27th comprehensive agreement for the avoidance of double taxation concluded by Taiwan with its trading partners and the 12th such treaty it has signed with a European country.

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