In 2009, the IASB issued the IFRS for SMEs, an alternative framework that can be applied by eligible entities in place of the full set of IFRSs in issue.
Luxembourg shipping companies fall under the general tax laws relevant to resident companies and can apply for a tax credit on investment in Luxembourg.
This brochure aims to provide a useful guide to the numerous legal and tax advantages offered to maritime companies operating under the Luxembourg ensign.