On 21 April 2016, Luxembourg's Minister of Finance Pierre Gramegna announced to a parliamentary committee that certain aspects of the previously announced tax reform package for 2017 ({News-2016-03-02/P/2- previous coverage}) would be revised. The main revisions include:
- Allowing losses to be carried forward for up to 17 years, while limiting the amount of taxable income that may be offset per year to 75% (initial proposal included 10 year carryforward and 80% offset);
- Increasing the tax cre…