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February 11, 2014updated 04 Apr 2017 2:31pm

Luxembourg not a tax haven, foreign affairs minister says

Jean Asselborn, the foreign affairs minister of the Luxembourg government, has insisted that the country is not tax haven.

By Verdict Staff

Jean Asselborn, the foreign affairs minister of the Luxembourg government, has insisted that the country is not tax haven.

He reiterated that the Luxembourg Government has taken a "very clear position," namely that the Grand Duchy will transfer to an automatic exchange of information (AEI) for savings from 1 January 2015.

According to tax-news.com, Asselborn insisted that it simply cannot be said that Luxembourg is blocking the European Savings Tax Directive.

Asselborn also revealed that the country is discussing on plans to extend the scope of the European Savings Tax Directive.

He, however, added that the government seeks the European Commission to discuss and negotiate with Switzerland, and with several other nations, to ensure coherence, according to tax-news.com.

In their recent meeting, the UK Chancellor of the Exchequer George Osborne and Luxembourg Finance Minister Pierre Gramegna said that they are awaiting the European Commission’s report on the progress of negotiations with Switzerland and other countries.

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