Luxembourg was removed from the “grey list” of countries who lacked sufficient tax transparency after signing a protocol to its double taxation convention with Norway.
This brings the total number of agreements it has on exchange of information for tax to 12.
Further negotiations are under way to update the exchange of information provisions in Luxembourg’s bilateral treaties.
OECD secretary-general Angel Gurría says: “I commend Luxembourg for its swift implementation of the OECD standards on exchange of information. In three months, Luxembourg has turned into reality its commitment to fully cooperate in tax matters. I would like to congratulate Minister Luc Frieden for his leadership in this process”.