American, British Chambers Explore Personal Taxation

On Tuesday 27 October 2026, the American Chamber of Commerce in Luxembourg (AMCHAM) and the British Chamber of Commerce in Luxembourg (BCC) held a joint Personal Tax Event luncheon at Espace Namur in Luxembourg-Hamm.

Around 50 people attended the popular annual event, enjoying a buffet main course bebefore the formal part of the event got underway.

Paul Schonenberg, AMCHAM Chairman, welcomed everyone and explained that this was the 13th year in which the two chambers have collaborated on this annual event.

The guest speaker was Laura Foulds, Managing Director, Analie Tax & Consulting. She has over 20 years of experience working in expatriate personal taxation initially with the “Big4” in the UK, the US and Luxembourg and, since 2013, with her own company, Analie Sarl. Analie provides UK, US and Luxembourg personal tax compliance assistance and advisory services. Laura is a specialist in expatriate taxation and provides advice on specific personal tax areas and cross border personal tax considerations to employers and employees and helps individuals optimise their tax position.

She explained in 1 2026 recap that there is a retirement incentive of €9,00 to work until 65 years old. Now, while still in 2026, one should file one's 2025 tax returns if not already done so. There is also tome to maximise one's deductions for 2026. The personal pension allowance has risen from €3,200 to €4,4500 as the main change this year.

She said that the move to single taxation has been talked about for a while and is expected to be voted on in parliament this week: Tariff U will have a €26,650 tax-free income per individual; however, if you are in Tax Class 2 (married), you can apply to stay there for up to 25 years (Tariff T). Yet, the government expects that 85% will move to Tariff U. Most proposed deductions for 2028 are increasing. 

For the Draft 2027 Budget, there is a proposal for short-term capital gains, from 6 to 12 months. There is also a €240 maximum CO2 tax credit and a 2.5% proposed personal income indexation. 

Regarding crypto assets, the crypto providers will be required to provide reporting to the authorities. 

Regarding UK (non-state) pensions, a new UK-Luxembourg tax treaty came into force from 1 January 2024; the deadline of 23 November to retain prior treaty treatment. 

She then talked about tax assessments and said that provisional assessments have started to be issued over the past year or so by Luxembourg tax authorities. She explained that one still has 30 days to pay or 3 months to appeal, as the case with definitive assessments. 

In the UK there have been changes to inheritance tax; those with UK properties will not be required to do quarterly reportin using digital tax returns. 

On US foreign reporting, she said that the forms and reporting obligations are onerous. 

Jonathan Norman, Head of the BCC tax group, thanked Laura Foulds for presenting and for the attendees for supprting the event.