Following the Declaration of the Luxembourg Prime Minister on the State of the Nation on 13 October 2020, there have been articles in the financial press mentioning that "Luxembourg raises taxes on specialised investment funds". In many cases the information provided in such publications is not accurate. In fact, the only change that was announced by the Prime Minister on this topic is that specialised investment funds investing in Luxembourg-based real estate will be subject to 20% tax on all revenues arising from the portion of the assets of such funds invested in Luxembourg-based real estate. Thus, Specialised Investment Funds which do not invest in Luxembourg-based real estate are not affected by this forthcoming change.
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