[OffshorePrivacy]

Germany And Luxembourg Agree to Tax Information Exchange

During a recent meeting held in Berlin, German Finance Minister Wolfgang Schäuble and his Luxembourg counterpart Luc Frieden agreed to include the Organization for Economic Cooperation and Development’s (OECD) standard on tax information exchange in their bilateral double taxation agreement (DTA).

In accordance with the OECD standard, both countries agreed to exchange information in tax matters upon request.

The corresponding protocol to amend the DTA is due to be signed shortly in Luxembourg.

Luxembourg agreed in March 2009 to strengthen its international cooperation in tax matters by applying the OECD standards in tax information exchange. Since then, Luxembourg has signed 12 agreements or protocols conforming with the OECD model.