Luxembourg: Selected Issues-Prospects of the Financial Sector-Tax Harmonization and Asset Market Valuation
June 17, 2002
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This Selected Issues paper presents a short history of the development of the financial sector of Luxembourg, highlighting the strong influence of tax and regulatory advantages for its past development. It describes the structure of the banking sector today and summarizes plans for harmonizing the taxation of cross-border interest income that could potentially challenge the future development of the sector. The paper also explains the mechanisms of growth that may have been at work in Luxembourg’s financial sector.
Subject: Banking, Economic sectors, Financial markets, Financial sector, Financial services, National accounts, Personal income, Production, Short term interest rates, Stock markets, Total factor productivity
Keywords: asset share, bank assets, bank commission, bank intermediation, bank revenue, business cycle, CR, Financial sector, Global, ISCR, Personal income, production function, profit and loss account, Short term interest rates, Stock markets, Total factor productivity, withholding tax
Pages:
33
Volume:
2002
DOI:
Issue:
117
Series:
Country Report No. 2002/117
Stock No:
1LUXEA0022002
ISBN:
9781451824315
ISSN:
1934-7685
