Luxembourg’s national legislature, The Chamber of Deputies, has approved a tax agreement with Taiwan. The agreement will eliminate double taxation of Taiwanese nationals in Luxembourg and Luxembourgian nationals in Taiwan once it takes effect.
The agreement passed the chamber Wednesday nearly unanimously, with only two abstentions and one legislator absent.
Luxembourg’s finance minister, Pierre Gremegna said that the agreement will help raise the level of cooperation between Luxembourg and Taiwan.
The agreement will now be presented to Grand Duke Henri for his signature. It will then be published in the Luxembourgian government’s official bulletin.
The agreement is scheduled to take effect on Jan. 1 next year.