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

International Monetary Fund

No 2002/117, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: 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 (search for similar items in EconPapers)
Pages: 33
Date: 2002-06-17
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