economic impact

The new corporate taxation rules from the Organisation for Economic Co-operation and Development (OECD) join earlier reforms that collectively pose economic and fiscal risks to the Luxembourg economy, according to the International Monetary Fund (IMF). Tax experts say it is possible that some non-financial multinationals located here might decide to leave because of the new OECD rules.

The coronavirus is causing ‘a clear shock to the world economy’, according to Columbia Threadneedle. Janus Henderson calls the global spreading of the coronavirus ‘a real game changer that has dashed hopes of a V-shaped recovery in global growth.’ 
 
‘So far we are seeing two clear consequences: lower consumption and less supply,’ says Neil Robson of Columbia Threadneedle. He illustrates the first concern citing the Adidas market update last week, showing a 85% decline in activity in China.