Luxembourg does not want to reintroduce a wealth tax
Pierre Gui, Unsplash
Luxembourg Finance Minister Gilles Roth (CSV) said that the government has no plans to reintroduce property tax for individuals. In response to a question from MP Yves Croustin (LSAP), he noted that the country's tax system is already progressive: people with high incomes pay significantly more tax than those who earn less. The property tax was abolished in 2006, when current Prime Minister Luc Frieden was finance minister.
Krušten asked the question in the context of the G20 initiatives, where countries have pledged to effectively tax people with very high incomes. It is estimated that a 2 per cent tax on the wealth of the 3,000 richest people could generate 250 billion euros a year.
However, Gilles Roth expressed reticence on this issue. He noted that Luxembourg is not against discussing improvements in international tax co-operation, but its support seems rather limited.
