This was in fact the case, although precise details were never released.  Unfortunately for corporate taxpayers (although perhaps fortunately for its neighbor, Belgium), the Luxembourg Government decided just last month not to proceed with the project, at least not for now.  However, in view of the BEPS initiative of the OECD and the increasingscrutiny of Luxembourg's very favorable regime of unpublished tax rulings, it would appear less and less likely that Luxembourg would wish to invite yet more attention byadding yet another highly-competitive tax regime to its arsenal.