Gilles Roth, Luxembourg's Minister of Finance;
Credit: © SIP / Claude Piscitelli
On 7 October 2025, Luxembourg’s Minister of Finance, Gilles Roth, presented the State’s financial situation as of 30 September 2025, reporting central government revenues of €21.7 billion and expenditure of €22.3 billion.
According to the Ministry of Finance, as of 30 September 2025, the revenues of the Central Administration continued to develop favourably, showing a year-on-year increase of 2.7% compared to the same period in 2024. This growth, recorded under the European accounting framework (ESA 2010), follows a 2.5% increase observed at the end of June 2025.
Breaking down the figures, revenues collected by the Direct Tax Administration (ACD) amounted to €10.7 billion (+€100.9 million or +1.0% year-on-year). The increase mainly resulted from corporate income tax (+€303.6 million or +12.5%) and, to a lesser extent, from wage withholding tax (+€69.7 million or +1.5%) compared to 30 September 2024. Together, these two taxes totalled €7.6 billion, representing 71.1% of ACD revenue.
The Ministry noted that revenues collected through assessment taxation reached €937.3 million, a decrease of €74.5 million (-7.4%) year-on-year, due to the adjustment of the personal income tax scale to inflation and a lower level of processed tax cases compared with the same period in 2024.
The Registration, Domains and VAT Administration (AED) recorded revenues of €5.9 billion (+€156.8 million or +2.8% compared to 30 September 2024). The Ministry explained that this increase stemmed mainly from higher VAT receipts (+€145.1 million or +3.4%) and subscription tax revenue (+€53.0 million or +5.5%), partially offset by a decline in registration duties (-€35.6 million or -24.1%).
The Customs and Excise Administration collected €1.9 billion, marking an increase of €196.8 million (+11.8%) year-on-year.
According to the Ministry, central government spending increased by €1.6 billion (+7.5%) year-on-year as of 30 September 2025, mainly driven by higher public investment, which rose by €649.3 million (+29.6%). The Ministry noted that this reflects the government’s continued efforts to prepare the country for future challenges.
The Central Administration’s balance as of 30 September 2025 stood at -€521 million.
Minister Roth commented: “Overall, public finances are evolving favourably. Revenues are increasing, reflecting the sound performance of our economy, despite significant tax relief measures for citizens and businesses. The government continues to pursue a proactive policy in favour of inclusive and sustainable growth. I remain cautiously optimistic about the future.”
