Bill implementing amendments to EC Parent-Subsidiary Directive submitted to Parliament

A Bill implementing Directive 2003/123/EC of 22 December 2003, which modified Directive 90/435/CEE (hereinafter, the Parent-Subsidiary Directive) was submitted to Luxembourg's Parliament on 8 August 2005. When approved, the Bill will apply retroactively for dividend distributions made from 1 January 2005. Details of the Bill are summarized below.

(a) General. The Bill proposes to amend Art. 147 of the LIR on the exemption from Luxembourg dividend withho…