Sat03252017

banque de luxembourg Logo

The American Chamber of Commerce, Luxembourg Chamber of Commerce and Banque de Luxembourg are hosting a pair of public conferences on personal taxation open to any resident or non-resident individual working in Luxembourg where they’ll be able to hear from and speak to tax experts from Luxembourg, Germany, Belgium and France. 

Lawyers and tax experts in the field of cross-border taxation such as V.O Consulting in Belgium, Dr. Widdau & Partner in Germany and Maître Arnaud Freulet in France will be assisted by Luxembourg personal tax experts from the offices of Deloitte, EY, KPMG and PwC who will be part of the sessions whose aim is to help individuals get the information they need to understand their personal tax situation and obligations. 

The sessions will be held as follows: 

29 March, 17:00 to 20:00 at Chambre de Commerce, 7, Rue Alcide de Gasperi, Kirchberg.

30 March 2017, 17:00 to 20:00 at Banque de Luxembourg, 14 boulevard Royal, Luxembourg City. 

Following an introductory presentation of around one hour, attendees can visit different stands where experts will respond to specific questions. Discussions can be held in different languages to facilitate communication, namely French, English, German, Luxembourgish, Dutch and Portuguese.

Entry is free, and registration is not required. However, a limited number of seats is available.

SNHBM sacy valency

The National Society for Affordable Housing (SNHBM) celebrated the construction of the Sacy and Valensy residences in Grevenmacher on Friday, opening up an avenue to affordable home-ownership for those on low incomes. 

The 16 apartments are defined by a favourable price-quality ratio, and sold to individuals who do not own another home, will live in the property themselves and meet certain income requirements. 

The advantegeous pricing is facilitated by the fact that the land on which the houses are built is sold under a 99-year long lease, while the houses themselves are sold outright. The leaseholder has full enjoyment of the property on payment of an annual fee, the so-called right of emphyteusis.

The apartments will be built in accordance with the prevailing criteria for passive buildings (Class A), and will consist of eight two-bed apartments of around 87 square metres and eight three-bed apartments of around 113 square metres.

Prices range from €272,150 to €393,038 including VAT, and excluding premiums. The parking spaces in the basement of the building cost between €27,144 and €34,632, including VAT. Kitchen and interior painting are not included in the prices.

More information is available on the SNHBM website: www.snhbm.lu 

Image: from SNHBM website. Architect: Dorin Alexandrescu

dudelange guardbarracks

A pilot project for a “guard barracks” was initiated at the Fire & Rescue Centre in Dudelange Friday. 

The facility will allow volunteers to remain on site and available for service during the day for ambulance interventions allowing immediate response to and management of persons in need of relief. This has not been possible under the current arrangement.

As a result, the City of Dudelange is installing five two-bed containers and a sanitary container. The total cost has been fully covered by the City.

Monday, 20 March 2017 09:33

Luxembourg Maintains S&P Triple-A Rating

standard poors

Luxembourg has held on to its AAA credit rating according to the latest report from International credit rating agency, Standard & Poor's (S&P), which affirmed the Grand Duchy’s positive rating, while giving it a stable outlook, in line with ratings accorded by other agencies, including Fitch and Moody’s, as well as DBRS.

S&P emphasised the flourishing character of Luxembourg’s economy, institutional efficiency and the prudent fiscal policy pursued by the government. The agency expects an average GDP growth of 3.4% for the period 2017-2020. In particular, it expects a strengthening of household consumption following the implementation of the 2017 tax reform.

The report also highlighted the diversified nature of Luxembourg’s financial centre, which remains an engine of growth. In relation to risks, the evolution of international tax rules and banking regulations present potential problems, as well as the long-term financing of the pension system. As for the direct impact of Brexit on the Luxembourg economy, the agency believed that this will be limited.

S&P noted that the level of public investment in Luxembourg, including infrastructure, is among the highest in Europe, however the Grand Duchy’s stable outlook stems from the fact that it believes that Luxembourg will continue to maintain a budgetary balance, while adapting to changes in international corporate taxation. Thus, the level of public indebtedness would be stabilised at 22-23% of GDP.

Pierre Gramegna, Minister of Finance, was pleased with the result. 

"I welcome this new confirmation of our 'AAA', which emphasises that the government's fiscal policy is paying off. The analysis also highlights the need to remain innovative and to adapt continuously to new challenges. Luxembourg has strong public finances, which reinforces its attractiveness and thus contributes to the creation of new jobs and the maintenance of an efficient social system,” he said. 

Only twelve countries hold the AAA status from S&P. The others are Australia, Canada, Denmark, Germany, Hong Kong, Liechtenstein, the Netherlands, Norway, Singapore, Sweden and Switzerland. 

Police logo

Police are appealing for witnesses who may have seen a man fall from the Bockfelsen yesterday evening after his body was found at around 20:45 by passersby below the Bockfelsen.

The police have identified the man as a 27-year-old Belgian. A backpack, which is likely his, was found on the lookout platform of the Bockfelsen .

Anyone who might have seen something is asked to contact police by telephone: 4997-4500.

 

Millicom logo

Global telecom and media company, Millicom International Cellular S.A., has appointed Michel Morin as investor relations VP, effective today. 

Mr Morin was formerly executive director LatAm TMT Research for Morgan Stanley, prior to which he was director for Latin American telecom & media equity research at Barclays Bank, as well as holding senior positions at Merrill Lynch and Andersen Consulting. He holds a Bachelor’s degree in Finance from the University of Ottawa and is a Certified Financial Analyst (CFA).

Tim Pennington, group CFO for Millicom, said he was thrilled to welcome Mr Morin to Millicom. 

“I am delighted to welcome Michel to Millicom, a company with which he is already very familiar. He brings extensive market and sector experience to our Investor Relations function and will be a valuable addition to the Millicom team. I would like to thank David Boyd, who has led the Investor Relations team on an interim basis,” he said. 

 

xavier bettel juri ratas estonia March2017

Prime Minister Xavier Bettel was in Estonia today, meeting with his counterpart, Jüri Ratas, and with Estonian state assembly president Riigikogu, Eiki Nestor. Prime Minister Bettel hailed the two countries as partners in a digital world, while stressing the need for the creation of a single digital market in Europe. 

The Prime Minister took the occasion to welcome the excellent bilateral relations between Luxembourg and Estonia and considered that there is great potential for further development of these relations, particularly in the field of ICT. 

"We share the determination to develop digital policy in the broad sense and to invest in digitising our economy and our society for the good of citizens and businesses,” he said, adding, ”negotiations to install an Estonian Data Embassy in Luxembourg are a concrete example of this collaboration. In order to push further digitisation in Europe, the creation of a single digital market in the European Union is essential."

During the trip, Prime Minister Bettel visited the e-Estonia Showroom, an exhibition illustrating Estonian innovation in digitalisation and e-administration. The visit provided the Prime Minister with an overview of Estonian performance in this area, including the provision of on-line administrative procedures and coverage of the free Wi-Fi networks at national level. 

"Estonia and Luxembourg are not competitors in the field of ICT, but we are partners that can benefit each other from our alliance,” said the Prime Minister.

At the end of the visit, Prime Minister Bettel was awarded the title of Estonian e-resident.

 

Friday, 17 March 2017 17:13

Pont Adolphe Set to Re-open on 25 March

pont adolphe suspension MF 600

After 4 years of rehabilitation works, Pont Adolphe will be back in service next Saturday 25 March 2017. 

Announcing the re-opening, the government thanked the collaboration between the Pavement Administration and the companies involved, saying that the restoration of the structure was exemplary, and the iconic bridge is now fully “healed”.

Traffic will again be able to circulate on Pont Adolphe from between 17:00 and 18:00 next Saturday, and will no longer need to use the temporary blue bridge that will be completely closed and dismantled over the coming months.

Some works remain outstanding, such as dismantling the scaffolding, redeveloping the squares in Brussels and Metz and building access to the new bicycle bridge will still have to be carried out.

The commissioning of the bicycle bridge under Pont Adolphe is planned for the end of summer 2017.

 

ASTI Logo

ASTI, the Association du Soutien aux Travailleurs Immigrés, has said that it broadly welcomes the government’s initiative — parcours d’integration accompagné (PIA) —  to assist the integration of of refugees noting, however, that it could have been introduced earlier, and taking the opportunity to announce a raft of new courses that they are offering. 

According to ASTI, the approach taken in the initiate, which includes language classes, civic education courses, as well as training and information sessions on everyday life in Luxembourg, deserves their approval and interest.

ASTI cited their own courses and integration supports, including literacy, work placements, and informations sessions on the culture, institutions, rights and duties of individuals in Luxembourg. 

A range of new courses has been promoted by ASTI, at which it said 250 people are already registered from among applicants and beneficiaries of international protection but also other foreign residents, for example Portuguese, Spanish, Serbo-Croatian, etc. 

 

government logo

461 people requested asylum in Luxembourg this January and February, according to figures published by the Government today. 

The number of applicants for international protection includes applicants who have arrived individually in Luxembourg and applicants for international protection relocated from Greece and Italy, in accordance with the decisions taken at European level. In January, Luxembourg relocated 28 Syrian people from Greece who are included in the figures and will follow the procedure for international protection.

Among those seeking protection, 80 came from Serbia and 79 from Syria, between them representing almost 35% of applicants. 

In February 2017, 46 people of Syrian origin were resettled in the Grand Duchy of Luxembourg according to the declaration between Europe and Turkey. These persons have been granted refugee status directly and are not counted either in the applications or in the decisions.

So far this year, the government has granted refugee status to 114 individuals, based on applications going back to 2012, while 82 applications were refused. 

A decision to transfer 346 applicants based on applications from 2016 and this year also applied. 64 were transferred to other European countries under the Dublin III Regulation, which governs which member states are responsible for an asylum claim, a third of whom went to Germany. Nine applicants were transferred to Luxembourg under the Regulation. 

So far this year, 63 people have been returned to their country of origin, with most leaving voluntarily.

Social Media

Website Information