- A bill revising Luxembourg’s patent box, the special tax treatment of intellectual property revenues, will be introduced to parliament in July. Pierre Gramegna, the DP finance minister, said the new regime is expected to take effect in 2018.
- Retailers in the capital are posting good turnover figures, but traffic and parking, and the lack of leisure activities for consumers, are notable challenges. That’s according to a study commissioned by the city and carried out by a German consultancy.
- The Luxembourg Central Bank’s consumer confidence index has dropped from 17 points in May to 13 for June.
- Brexit will leave the EU with a €20bn budget hole, according to a forecast issued by the European Commission.
- Assets under management at Luxembourg private banks rose 3% last year, to €361bn. That is 35% higher than the figure in 2008, said the Private Banking Group, Luxembourg.
Pierre Gramegna, the finance minister, will present legislation on revamping Luxembourg’s intellectual property tax regime this summer. Pictured: Pierre Gramegna speaks at an Association of the Luxembourg Fund industry conference on 22 March 2017. Image: LaLa La Photo