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By Emilien LEBAS, Partner, International Tax, Tax controversy dispute resolution leader Valentine PLATEAU, Assistant Manager, International Tax, KPMG Luxembourg
On 23 November 2023, the Luxembourg administrative Court of Appeal (Cour administrative, 23 novembre 2023, n°48125C) overruled the judgement rendered by the Luxembourg administrative court of first instance (Tribunal administratif, 23 septembre 2022, n°44902) that an interest-free loan (“IFL”) should be requalified as equity for Luxembourg direct tax purposes, and ruled instead that the instrument at issue should be regarded as a debt considering all facts and circumstances.
Summary of the case
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