The draft law, extending certain deadlines for individual and corporate tax returns has been filed with the Luxembourg Chamber of Deputies under Bill 7746 (“the Bill”). The extension was announced by the Prime Minister in December 2020 (please refer to Luxembourg Tax Alert 2020-22) and was granted due to the ongoing pressure on individuals and businesses as a result of the COVID-19 crisis.
Once enacted, the filing deadlines would be extended as follows:
The Bill does not provide for an extension of the deadline for the 2019 corporate tax returns. For these returns an administrative tolerance until 31 March 2021 was announced in the press release by the government on 21 December 2020, meaning that no penalties should be imposed if the corporate tax return is filed before that date.
The Bill will now have to follow the usual legislative process before becoming law.
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