Luxembourg Guide: Money

Our money guide provides information on bank accounts, credit and debit cards, money transfers and income tax. If you need to open a bank account, we will explain how to do it - step by step.

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  Banks in Luxembourg

  Where to manage your finances

  Banking is a major industry in Luxembourg, and there’s no shortage of banks to choose from. Luxembourg is home to over 140 different banks employing 10 per cent of the population!

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  Opening a bank account in Luxembourg

  Process & requirements

  Opening a bank account in Luxembourg is a straightforward process and the requirements are fairly low.

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  Bank Transfers

  How to make payments in Luxembourg

  The usual method of making payments in Luxembourg is a direct bank transfer.

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  Debit & credit cards

  Using debit and credit cards in Luxembourg

  Banks in Luxembourg are leading the way towards a ‘cashless society’ with the various types of cards they issue to their customers.

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  Credit & Charge Cards

  How to use credit cards in Luxembourg

  Credit and charge cards are referred to collectively as credit cards in Luxembourg.

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  Income tax

  An introduction to the income tax in Luxembourg

  Although both Luxembourg enjoys a reputation for being a tax haven for the idle rich, ordinary working people in Luxembourg suffer from some of the highest tax rates in the world.

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  Income Tax liability

  Who is liable to pay income taxes in Luxembourg?

  Your liability for income taxes (and any other sort of taxes, for that matter) depends on where you're domiciled, which is usually the country you regard as your permanent home and where you live most of the year.

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  Taxable Income

  What part of my income is taxable?

  There are five categories of taxable income in Luxembourg:

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  Tax Bills

  When to pay them and other matters

  A few months after filing your tax return, you should receive a notice of assessment from your assigned tax inspector.

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