Financial Transparency Coalition

Many outlets reported on the fact that Luxembourg has now signed 12 OECD model Tax Information Exchange Agreements (TIEA). However, all of these articles cover only one side of the story - touting the signing of the agreement, the OECD's lauding of Luxembourg, and the Luxembourg's self lauding for coming into "compliance." If you weren't careful, you might mistake the articles for something written by a mother who is bragging about the accomplishments of her own child. But there is an entirely separate side to this story that hasn't permeated the coverage at all:...

Luxembourg has revised its double tax convention with Norway to include provisions for the exchange of information in tax matters. The agreement brings the number of OECD model agreements it has concluded to twelve, ranking Luxembourg as a jurisdiction that has 'substantially implemented' the internationally agreed standard in this area.

Luxembourg Minister of Budget Luc Frieden concluded a new tax agreement with Dutch State Secretary of Finance Jan Kees de Jager on 29 May. The agreement will provide for the exchange of information in tax matters between the two countries in accordance with the OECD standard.

Luxembourg signed a new tax cooperation agreement with France on Wednesday that reduces the scope of its banking secrecy, one of over a dozen such deals it intends to reach this year to avoid being branded a tax haven.