As part of its tax reform plans for 2017 ({News-2016-03-02/P/2- previous coverage}), Luxembourg is proposing to restrict the carry forward of losses realized in 2017 and subsequent years. Under current rules, losses may be carried forward to offset taxable income indefinitely. Under the proposed reform, losses may only be carried forward for ten years, and may only offset up to 80% of taxable income in each year. The restrictions would not apply to losses carried forward from years prior to 2…