Luxembourg Issues Circular Providing Guidance on Allowance for Commercial Rent Reductions in 2021

The Luxembourg Administration of Direct Tax has issued Circular L.I.R. n° A 21/1 of 21 October 2021, which updates and replaces Circular L.I.R. n° A 21/1 of 7 April 2021 regarding the tax allowance for rent reductions. The tax allowance was first granted in 2020 for the benefit of owners that reduce commercial rents in order to help businesses impacted by the COVID-19 pandemic and was subsequ…
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