The Luxembourg Ministry of Finance today announced that Luxembourg and Senegal have signed a new tax treaty. The double tax avoidance agreement was signed on February 10 by Pierre Gramegna, Luxembourg’s Minister of Finance, and Amadou Diop, Ambassador of Senegal.
The new tax treaty incorporates provisions from both the UN and OECD model tax treaties, the ministry said. It also adopts the minimum standards on treaty shopping, agreed to by countries that endorsed the OECD/G20 base erosion profit shifting plan.
The tax agreement is not yet in force; it must first be ratified by the Luxembourg and Senegal governments.
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