On 16 May 2023, the Luxembourg Parliament (Chambre des Députés) has passed the law amending the law of 30 July 2022 setting out various tax measures designed to encourage the marketing and acquisition of building land and residential property (the “Law”).
The purpose of the Law is to increase, with retroactive effect as of 7 March 2023, from EUR 20,000 to EUR 30,000 the amount of registration and transcription duties’ reduction granted to purchasers of property acquired and used as their principal residence (i.e. the so-called Bellëgen Akt).
The Law implements one of the measures of the “Solidaritéitspak 3.0” agreed upon by the Tripartite Coordination Committee in March 2023 in the context of a growing inflation.
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