PwC published Worldwide Tax Summaries - Corporate Taxes 2014/15, its latest compendium of worldwide corporate tax rates and rules.  The guide features over 150 country summaries, written by local PwC firm tax specialists, including recent changes in tax legislation. The guide gathers key information about income taxes, residency, income determination, deductions, group taxation, credits and incentives, withholding taxes, indirect taxes, and tax administration.

“Businesses are increasingly trading and operating across multiple countries. As such, they need to remain up to date on the latest changes to tax laws and regulations and keep tabs on the varying tax rates in effect" said Wim Piot, partner, Tax Leader at PwC Luxembourg.  "Using the unmatched resources of PwC's worldwide network of tax professionals, we track the latest information and put the world's taxes at their fingertips."

Major changes over the past few years in Luxembourg include the introduction of a favourable tax regime for intellectual property (IP) rights, an increase of the rates applicable to investment tax credits, and the implementation of a transfer pricing framework for intra-group financing activities.

“The government continues its efforts in extending Luxembourg’s favourable tax treaty network and also revisiting existing treaties in the view of introducing the internationally agreed tax standards in terms of exchange of information,” added Wim Piot.

Worldwide Tax Summaries is available in four forms: as a hard copy book, an ebook for download, a PDF file, and online at www.pwc.com/taxsummaries. The website allows users to search for information on over 20 categories of corporate and individual tax information and is updated within approximately 30 days of significant tax developments, with dates provided for the latest revisions.  There is also a listing of tax specialists at PwC member firms around the world who can offer advice and support. Worldwide Tax Summaries content is also accessible through Tax Analysts at http://www.taxanalysts.com/wts .