Legal & Tax
Money laundering
What is Money laundering?
Money laundering is a criminal act whereby money that has been obtained through criminal activities, i.e. "dirty" money, is "white washed" by using the financial system in order to conceal its origins. Essentially, then, Money laundering means making illegal money look like legitimate money by wiping any traces that could link it to its criminal origins.
Taxation of savings
Taxation of savings for Luxembourg residents
Since 2006, a final flat rate withholding tax of 10% is levied on the savings income of Luxembourg residents. The income liable to fall under this withholding tax is the same as that defined in the EU Savings Directive.
The EU Savings Taxation Directive
