TAXATION

United Kingdom

Taxation in the United Kingdom

General Information

UK resident company liable to corporation tax on its worldwide profits.

non-UK resident company liable to corporation tax on the profits of a branch or agency in the UK.

LTDs benefit from significant tax incentives

Taxation in the United Kingdom

UK corporation tax rates:

20 per cent for companies with profits of up to £300,000

between 20 per cent and 26 per cent for companies earning profits of between £300,001 and £1.5 million depending on where your profits fall within that band

26 per cent for companies with profits of more than £1.5 m

Taxation in the United Kingdom

UK personal tax rates for 2011-12:

20 per cent on income between £1 and £35,000

40 per cent on income over £35,000 50 per cent on income over £150,000 Tax free allowance 7.500

TAXATION

Luxembourg

Taxation in Luxembourg

GENERAL:

Resident companies are taxed on their world-wide income

Non-resident companies having a 'permanent establishment' (defined as a place of business or fixed equipment, which would normally include branches) pay income tax on their income originating in Luxembourg.

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Taxation in Luxembourg

GENERAL:

Corporate Income Tax (IRC) applies to corporate entities, which includes SAs, SARLs, and Partnerships Limited by Shares

In partnerships tax is assessed directly on the partners rather than the partnership as such.

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Taxation in Luxembourg

ADVANTAGES:

tax incentives available for investors who are considered to be supporting the economic development of the country

IRC is assessed annually and deducted from the annual net income (profit) from business activities

Taxation in Luxembourg

TAX RATES FOR COMPANIES:

income does not exceed €15,000, the maximum tax rate is 20 percent.

otherwise the tax rate is 21 percent in both cases, there is a 4 % employment

contribution surcharge and a charge of between 6% and 10.5% in respect of municipal services.

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