Loi du 25 novembre 1992 portant approbation de l’Accord sous forme d’échange de notes, datées respectivement du 11 avril et du 22 juin 1989, entre le Grand-Duché de Luxembourg et les Etats-Unis d’Amérique pour une exemption réciproque en matière d’impôts sur le revenu et sur la fortune, des revenus touchés et de la fortune détenue en relation avec l’exploitation internationale de navires et

Loi du 25 novembre 1992 portant approbation de l’Accord sous forme d’échange de notes, datées

respectivement du 11 avril et du 22 juin 1989, entre le Grand-Duché de Luxembourg et les Etats-Unis

d’Amérique pour une exemption réciproque en matière d’impôts sur le revenu et sur la fortune, des

revenus touchés et de la fortune détenue en relation avec l’exploitation internationale de navires et

d’aéronefs.

Nous JEAN, par la grâce de Dieu, Grand-Duc de Luxembourg, Duc de Nassau;

Notre Conseil d'Etat entendu;

De l’assentiment de la Chambre des Députés;

Vu la décision de la Chambre des Députés du 21 octobre 1992 et celle du Conseil d’Etat du 6 novembre 1992 portant

qu’il n’y a pas lieu à second vote;

Avons ordonné et ordonnons

- Est approuvée la Convention entre le Grand-Duché de Luxembourg et la République Hellénique

tendant à éviter les doubles impositions et à prévenir la fraude fiscale en matière d’impôts sur le revenu et sur la fortune,

signée à Athènes, le 22 novembre 1991.

Mandons et ordonnons que la présente loi est insérée au Mémorial pour être exécutée et observée par tous ceux que

la chose concerne.

Le Ministre des Affaires Etrangères,

du Commerce Extérieur

Château de Berg, le 25 novembre 1992.

et de la Coopération,

Jean

Jacques F. Poos

Le Ministre des Finances,

Jean-Claude Juncker

Doc. parl. no 3663; sess. ord. 1991-1992 et 1992-1993.

Est approuvé I’Accord sous forme d’échange de notes, datées respectivement du 11 avril et du 22

juin 1989, entre le Grand-Duché de Luxembourg et les Etats-Unis d’Amérique pour une exemption réciproque en

matière d’impôts sur le revenu et sur la fortune, des revenus touchés et de la fortune détenue en relation avec I’exploita-

tion internationale de navires et d’aéronefs.

Mandons et ordonnons que la présente loi soit insérée au Mémorial pour être exécutée et observée par tous ceux que

la chose concerne.

Château de Berg, le 25 novembre 1992.

Le ministre des Affaires Etrangères,

Jean

du Commerce Extérieur

et de la Coopération,

Jacques F. Poos

Le ministre des Finances,

Jean-Claude Juncker

Doc. parl. 3544; sess. ord. 1990-1991 et 1992-l993.

TEXTE DE L’ECHANGE DE NOTES

Embassy of the

United States of America

The Embassy of the United States of America presents its compliments to the Ministry of Foreign

Affairs of the Grand Duchy of Luxembourg and has the honor to proprose that the two Governments

conclude an agreement to exempt from income and capital tax, on a reciprocal basis, income

derived and capital owned by residents of the other country in respect of the international operations

of ships and aircraft. The terms of the agreement are as follows

1.

The Government of the United States of America, in accordance with sections 872 (B) and 883

(A) of the Internal Revenue Code, agrees to exempt from tax gross incorne derived from the

international operation of ships or aircraft by individuals who are residents of Luxembourg (other

than U.S. citizens) and corporations organized in Luxembourg. This exemption is granted on the

basis of equivalent exemptions granted by the Grand Duchy of Luxembourg to individual residents

of the United States and to corporations organized in the United States (which are net subject to tax

by Luxembourg on the basis of residence).

In the case of a Luxembourg corporation, the exemption shall apply only if the corporation meets

either of the following conditions

(i) The corporation’s stock is primarily and regularly traded on an established securities market in

Luxembourg, another country which grants an equivalent exemption to U.S. corporations, or

the United States; or

(ii) More than 50 percent of the value of the corporation's stock is owned, directly or indirectly, by

individuals who are residents of Luxembourg or of another country which grants an equivalent

exemption to U.S. corporations or by a corporation organized in a country which grants a reci-

procal exemption to U.S. corporations and whose stock is primarily and regularly traded on an

established securities market in that country, another country which grants an équivalent

exemption to U.S. corporations, or the United States.

For purposes of subparagraph (ii), the Government of the Grand Duchy of Luxembourg will be

treated as an individual resident of Luxembourg. For purposes of the exemption from U.S. tax, sub-

paragraph (ii) will be considered to be satisfied if the corporation is a "controlled foreign corpora-

tion” under the Internal Revenue Code.

Gross income includes all income derived from the international operation of ships or aircraft,

including income from the rental of ships or aircraft on a full (time or voyage) basis and incorne from

the rental of containers and related equipment which is incidental to the international operation of

ships or aircraft. It also includes income from the rental on a bareboat basis of ships and aircraft used

for international transport.

2.

The Grand Duchy of Luxembourg agrees to exempt from income taxes on individuals and

corporations and from communal tax on commercial profits income derived from the international

operation of ships or aircraft by U.S. résidents and corporations organized in the United States

(other than corporations which are subject to tax by Luxembourg on the basis of residence).

The Grand Duchy of Luxembourg agrees to exempt from wealth tax and communal tax on inves-

ted capital, capital represented by ships or aircraft operated in international traffic and by movable

property pertaining to the operation of such ships or aircraft.

In the case of a U.S. corporation, the exemption shall apply only if the

the following conditions

corporation meets either of

(i) the corporation’s stock is primarily and regularly traded on an established securities market in

the United States, another country which grants a reciprocal exemption to Luxembourg corpo-

rations, or Luxambourg; or

(ii) more than 50 percent of te value of the corporation’s stock is owned, directly or indirectly, by

individuals who are residents of the United States or of another country which grants a recipro-

cal exemption to Luxembourg corporations, or by a corporation organized in a country which

gants a reciprocal exemption to Luxembourg corporations and whose stock is primarily and

reguiarly traded on an established securities exchange in that countryi another country which

grants a reciprocal exemption to Luxembourg corporations or Luxembourg.

Income includes all income derived from the international operation of ships or aircraft, inclu-

ding income from the rental of ships or aircraft on a full (time or voyage) basis and income from the

rental of conntainers and related equipment which is incidental to the international operation of ships

or aircraft. It also includes income from the rental on a bareboat basis of ships and aircraft used for

international transport.

3.

This agreement will net affect the provisions of Article V of the Convention of December 18,

1962 between the United States of America and the Grand Duchy of Luxembourg with respect to

taxes on income and property which will remain in effect.

4.

This agreement shall enter into force upon the confirmation by the Embassy of the United

States of America of the notification by the Government of the Grand Duchy of Luxembourg indica-

ting that all necessary interna1 procedures have been completed and the exemption from taxes as

provided for in paragraphs 1 and 2 shall have effect with respect to taxable years beginning on or

after January 1, 1987

5.

Either government may terminate this ag

through diplomatics channels.

reement by giving written notice of termination

The Embassy of the United States of America takes this opportunity to renew to the Ministry of

Foreign Affairs the assurances of its highest consideration.

Embassy of United Stades of America

*

Luxembourg, April 11, 1989

The Ministry of Foreign Affairs of the Grand Duchy of Luxembourg presents its Compliments to

the Embassy of the United States of America and has the honor to acknowledge receipt of its note of

11 April 1989 proposing the terms of an agreement for a reciprocal exemption from income and

capital tax of income derived and capital owned in respect ofthe international operation of ships and

aircraft. The terms of the agreement are as follows

1.

The Government of the United States of America, in accordance with sections 872 (B) and 883

(A) of the Internal Revenue Code, agrees to exempt from tax gross income derived from the interna-

tional operation of ships or aircraft by individuals who are residents of Luxembourg (other than U.S.

citizens) and corporations organized in Luxembourg. This exemption is granted on the basis of

equivalent exemption granted by the Grand Duchy of Luxembourg to individual residents of the

United States and to corporations organized in the United States (which are not subject to fax by

Luxembourg on the basis of residence).

In the case of

either of the fol

a Luxe

lowing

mbourg corp

conditions

oration, the exemption shall apply on1y if the corporation meets

(i) The corporation's stock is primarily and reguiarly traded on an established securities market in

Luxembourg, another country which gants an equivalent exemption to U.S. corporations or

the United States; or

(ii) More than 50 percent of the value of the corporation's stock is owned, directly or indirectly, by

individuals who are residents of Luxembourg or of another country which grants an equivalent

exemption to U.S. corporations or by a corporation organized in a country which grants a reci-

procal exemption to U.S. corporations and whose stock is primarily and regularly traded on an

established securities market in that country, another country which grants an equivalent

exemption to U.S. corporations, or the United States.

For purposes of subparagraph (ii)j the Government of the Grand Duchy of Luxembourg will be

treated as an individual resident of Luxembourg. For purposes of the exemption from U.S. tax, sub-

paragraph (ii) will be considered to be satisfied if the corporation is a "controlled foreign corpora-

tion)) under the Interna1 Revenue code

Gross income includes all income, derived from the international operation of ships or aircraft,

including income from the rental of ships or aircraft on a full (time or voyage) basis and income from

the rental of containers and related equipment which is incidental to the international aperation of

ships or aircraft. It also includes income from the rental on a bareboat basis of ships and aircraft used

for international transport.

2.

The Grand Duchy of Luxembourg agrees to exempt from income taxes on individuals and

corporations and from communal tax on commercial profits income derived from the international

operation of ships or aircraft by U.S. résidents and corporations organized in the United States

(other than corporations which are subject to tax by Luxembourg on the basis of residence).

The Grand Duchy of Luxembourg agrees to exempt from wealth tax and communal tax on inves-

ted capital represented by ships or aircraft operated in international traffic and by movable

property pertaing to the operation of such ships or aircraft.

In the case of a U.S. corpo

the following conditions

ration, the exemption shall apply only if the corporation meets either of

(i) The corporation's stock is primarily and regularly traded on an established securities market in

the United States, another country which grants a reciprocal exemption to Luxembourg corpo-

rations, or Luxembourg; of

(ii) More than 50 percent of the value of the corporation’s stock is owned, directly or indirectly, by

individuals who are residents ofthe United States or of another country which grants a recipro-

cal exemption to Luxembourg corporations or by a corporation organized in a country which

grants a reciprocal exemption to Luxembourg corporations and whose stock is primarly and

regularly traded on an established securities exchange in that country, another country which

grants a reciprocal exemption to Luxembourg corporations or Luxembourg.

Income includes all income derived form the international operation of ships or aircraft, inclu-

ding income from the rental of ships or aircraft on a full (time or voyage) basis and income from the

rental of containers and related equipment which is incidental to the international operation of ships

or aircraft. It also includes income from the rental on a bareboat basis of ships and aircraft used for

international transport.

3.

This agreement will not affect the provisions of Article V of the Convention of December 18,

1962 between the United States of America and the Grand Duchy of Luxembourg with respect to

taxes on income and property which will remain in effect.

4.

This agreement shall enter into force upon the confirmation by the Embassy of the United

States of America of the notification by the Government of the Grand Duchy of Luxembourg indi-

cating that all necessary interna1 procedures have been completed and the exemption from taxes as

provided fur in paragraphs 1 and 2 shall have effect with respect to taxable years beginning on or

after January 1, 1987.

5.

Either Government may

through diplomatic channels.

terminate this agreement by giving written notice of termination

The Ministry of Foreign Affairs of the Grand Duchy of Luxernbourg takes this opportunity

to renew to the Embassy of the United States of America the assurances of his highest

consideration.

Luxembourg, 22 June 1989.

Embassy of the United

States of America

Luxembourg.

loi du 25 novembre 1992 portant approbation de la Convention entre le Grand-Duché de Luxembourg et la

République Hellénique tendant à éviter les doubles impositions et à prévenir la fraude fiscale en

matière d'impôts sur le revenu et sur la fortune, signée à Athènes, le 22 novembre 1991

Nous JEAN, par la grâce de Dieu, Grand-Duc de Luxembourg, Duc de Nassau;

Notre Conseil d’Etat entendu;

De l'assentiment de la Chambre des Députés;

Vu la décision de la Chambre des Députés du 21 octobre 1992 et celle du Conseil l'Etat du 6 novembre 1992 portant

qu’il n’y a pas lieu à second vote;

Avons ordonné et ordonnons