The Luxembourg tax administration has published Circular L.I.R. No. 50ter/1 of 28 June 2019, which provides detailed guidance on the application of the country's new IP regime. The new regime is in line with the modified nexus approach developed as part of BEPS Action 5 and provides for an 80% corporate income tax exemption on qualifying net income derived from the commercialization of qualifying IP assets/rights, and a 100% net wealth tax exemption ({News-2018-03-27/A/6-previous coverage}).…