Luxembourg Unveils Tax Credits for Energy Efficiency

THE GRAND Duchy of Luxembourg is to provide tax credits to encourage energy efficiency improvements to buildings.

Luxembourg’s Finance Minister Luc Frieden and Housing Minister Marco Schank recently unveiled the key details of various tax incentives.

Highlighting the environmental and economical aims of the new tax credits, Frieden explained that the Luxembourg government decided that reforming existing tax credits would be the way to progress.

Minister Frieden stated that it is imperative to promote energy efficiency to protect the environment by increasingly linking fiscal regimes with energy efficiency criteria. With reference to the economic dimensions of the new tex credits, Frieden added that improvements to existing properties will lead to additional employment.

In line with these provisions, the Luxembourg government also approved two new economic measures to encourage owners of older buildings to carry out energy efficiency improvements.

Picture of Luxembourg Grund by Gaga M13 reproduced under CCL.

Friday 23rd September 2011

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