Luxembourg: Selected Issues-Prospects of the Financial Sector-Tax Harmonization and Asset Market Valuation

This Selected Issues paper presents a short history of the development of the financial sector of Luxembourg, highlighting the strong influence of tax and regulatory advantages for its past development. It describes the structure of the banking sector today and summarizes plans for harmonizing the taxation of cross-border interest income that could potentially challenge the future development of the sector. The paper also explains the mechanisms of growth that may have been at work in Luxembourg's financial sector.
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Volume/Issue: Volume 2002 Issue 117
Publication date: June 2002
ISBN: 9781451824315
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Business and Economics , Banks and Banking , Finance , Economics- Macroeconomics , ISCR , CR , business cycle , withholding tax , bank commission , bank revenue , bank assets , profit and loss account , asset share , bank intermediation , production function , Financial sector , Personal income , Total factor productivity , Stock markets , Short term interest rates , Global

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Summary

This Selected Issues paper presents a short history of the development of the financial sector of Luxembourg, highlighting the strong influence of tax and regulatory advantages for its past development. It describes the structure of the banking sector today and summarizes plans for harmonizing the taxation of cross-border interest income that could potentially challenge the future development of the sector. The paper also explains the mechanisms of growth that may have been at work in Luxembourg’s financial sector.

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