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Luxembourg VAT 2015 changes

  • Sep 14, 2014 | Richard Asquith

Luxembourg VAT 2015 changes

A ranges of Luxembourg VAT compliance changes have been proposed, including:

  • New measures to improve the VAT regime in tax free zones. This includes the elimination of potential double taxation on goods in VAT suspension released into a free zone.
  • The supply of art and antiques is to be reclassified from the standard VAT rate of 15% to the reduced VAT rate of 6%.
  • Auctioneers may apply for the use of the profit margin scheme, rather than conventional input/output VAT in relation to sales of art, antiques and other used goods

If approved by Parliament, the above measures will be implemented from 1 January 2015.

VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which won International Tax Review's 2020 Tax Technology Firm of the Year. Richard trained as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.