ARTICLE · 20 DECEMBER 2017

Year-End Tips For Luxembourg Taxpayers (Video)

KPMG Luxembourg

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December is a month of mixed emotions. Holidays like St. Nicholas Day and Christmas bring a lot of cheer—but they also, well, they don't cost nothing

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December is a month of mixed emotions. Holidays like St. Nicholas Day and Christmas bring a lot of cheer—but they also, well, they don't cost nothing. Perhaps saving is on your mind. If so, I have a few suggestions for ways to save on your tax bill before the end of this month!

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Watch the video above for four tax tips, or keep reading for additional tips.

Home savings and loan schemes

Contributions to qualifying home saving and loan schemes are deductible from your income. Any credit interest received from these schemes is fully tax-exempt. If on 1 January 2017 you were between 18 and 40 years old, your maximum deduction amounts to €1,344. If it was outside this range, you can still deduct up to €672. If you have a spouse / legal partner, this maximum deductible amount is doubled. For each child living in your household, you can add, again, the same amount.

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