On 19 January 2024, the Grand Duchy of Luxembourg and the Republic of Colombia have signed a convention for the elimination of double taxation with respect to taxes on income and on capital and the prevention of tax evasion and avoidance (the “DTT”). For more information, please refer to our previous newsletter on this topic here.
The draft law submission
The draft law approving this convention was submitted to the Chamber of Deputies under No. 8483 on 24 January 2025.
Council of State and Finance Committee Opinions
The Council of State (Conseil d’Etat), the Chamber of Commerce (Chambre de Commerce) and the Finance Committee (Commission des finances) issued favorable opinions on 4 February 2025 and 19 March 2025 and 25 march 2025, respectively.
Parliamentary approval
On 2 April 2024, the Chamber of Deputies approved the draft law, thereby ratifying the DTT.
Entry into force
The DTT will take effect on 1 January of the year following the exchange of notifications between the contracting states.
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