Greetings all,
I would appreciate your guidance on the local regulations for large loans between individuals, e.g. friends, family members.
Specifically, I want to know if the lender and borrower must establish a loan contract, and if the loan must be declared to tax authorities. In France for instance, private loans above 5000 € must be included in the tax declaration (see https://www.service-public.fr/particuliers/vosdroits/F35751/0_1?idFicheParent=F1059#0_1), and a loan contract can be established for 125€ + formalities.
I wasn’t able to find similar information for Luxembourg. Anyone who knows ?
by IMadeYouAFlatulence