On 11 December 2024, the Luxembourg Parliament approved two legislative proposals1that will affect corporate taxpayers.Although some formal legal steps still need to be taken before the proposals become law, these steps are expected to occur before year-end. Executive summaryOn 11 December 2024, the Luxembourg Parliament adopted legislation amending, among other things, the Corporate Income Tax (CIT) Law and the Net Wealth Tax (NWT) Law.Amendments affecting CITThe CIT rate is reduced by 1%, resulting in a decrease in the global tax rate for a company operating in Luxembourg City with taxable income exceeding €200,000; thus, for tax year 2025, the current 24.94%...