Luxembourg - Main New Tax Measures 2018 At A Glance

by Hogan Lovells

Hogan Lovells

Main corporate tax measures



Decrease of the corporate income tax rate

Introduced by the 2017 Luxembourg Tax Reform, the corporate income tax applicable on taxable income exceeding EUR 30,000 will decrease from 19% to 18%. Therefore, the aggregate corporate income tax rate, including the municipal business tax and the unemployment fund contribution, for companies located in Luxembourg-City will be 26.01% (assuming municipal business tax rates and the unemployment fund contribution remain unchanged).

This decrease of the corporate tax rate is in line with the aim of corporate competiveness of the Luxembourg Government. This new rate is indeed quite competitive if we look at the rates applicable in the neighbouring countries. However, as indicated in our Newsletter on the 2017 Luxembourg Tax Reform, this reduced corporate income tax rate is still considered as too high by the business community if compared to tax rates applied by other EU jurisdictions specialising in the financial investment and private banking sector.


Corporate tax base unchanged

No change to the legal rules and regulations regarding the computation of the corporate tax base.


New incentive for software purchases

The acquisition of software may benefit, under certain conditions, of a new tax credit, which will amount to 8% up to EUR 150,000 of its purchase price, and 2% above such threshold.

However, such advantage is subject to a certain number of limitations:

  • only acquisitions of software may benefit from such measure excluding thus, for instance, the benefit for a software produced within the company;
  • exclusion of the incentive for the acquisition of software from related parties within the meaning of article 56 of the Luxembourg income tax law ("LITL"); this limitation reduces quite significantly the benefit of this measure in view of the rather broad definition of "related entities" under article 56 LITL;
  • limitation of the tax credit to 10% of the tax due for the year in which the software has been purchased; and
  • the income from an eligible software will be excluded from the new Luxembourg IP tax regime, currently discussed and to be implemented in the near future, if the tax credit for such a software is used.

In conclusion, this new tax incentive is in line with the Luxembourg government's goal to increase competitiveness, but its impacts will, in our view, be limited due to its numerous restrictions.


Clarification regarding the taxation of the acquiring entity within a merger

For recollection, under a merger qualifying for the neutralization tax regime, if the acquiring entity holds a participation in the acquired entity, the cancellation of such participation upon the merger is considered a disposal of the shares at fair market value by the acquiring entity, regardless of the value of the assets and liabilities transferred by the acquired entity.

A gain realised in this context by the acquiring entity is subject to income tax. However, such gain may benefit from the Luxembourg participation exemption provided that the holding threshold and holding period requirements thereunder are met. The article dealing with the possibility to benefit from this exemption, i.e. article 171 (3) LITL, covered also another exemption provided for in the EU Merger Directive (Council Directive 2009/133/EC), requiring only a holding threshold to be met. As such, article 171 (3) LITL stipulated the gain realised by the acquiring entity to be tax exempt in any event if the latter holds more than 10% in the acquired entity at the time of the merger, thus regardless of any holding period requirement.

For the sake of clarity, article 171 (3) LITL is now amended to deal with two points:

  • clarification that the gain is tax exempt if the conditions of the Luxembourg participation exemption regime are met, notwithstanding whether the minimum holding period condition is met or not; and
  • alignment of the required holding threshold with the one included in the Luxembourg participation exemption.

As a consequence, article 171 (3) LITL now specifies that any gain realised by the acquiring entity under a merger is tax exempt if the conditions of the Luxembourg participation exemption regime are met, however regardless of the minimum holding period requirement.


Clarification regarding the Luxembourg tax consolidation regime

Article 164bis LITL has been amended to clarify that RAIFs (i.e. reserved alternative investment funds) set-up as SICARs (i.e. companies investing in risk capital) can't benefit from the Luxembourg tax consolidation regime.

This clarification is in fact the rectification of a past error that has slipped in the LITL following the introduction of the law dated 23 July 2016 on RAIFs. Indeed, considering the special tax regime applicable to SICARs, the latter are explicitly excluded from the Luxembourg tax consolidation regime. It is thus coherent that RAIFs set-up as SICARs are also excluded from the Luxembourg tax consolidation regime.



Main individual tax measures



Increase in the flexibility of the taxation method

Married couples resident in Luxembourg have now the choice between joint taxation, strict separate taxation and separate taxation with free reallocation, providing more flexibility in their taxation method.

The choice of strict separate taxation, respectively separate taxation with reallocation, must be made through a joint application before the end of March following the tax year in question. Whilst the choice will be irrevocable for the concerned year if made after the tax year in question, such choice can be withdrawn or amended if taken before or during the tax year in question.

Such flexibility of the taxation method will give married couples the possibility to opt for the most advantageous taxation method in view of their personal situation. Further, the possibility to choose between these three taxation methods until end of March following the tax year in question will help to make the right assessment in view of the global family and financial situation of the couple. However, the utility of the separate taxation with free reallocation is in our opinion questionable given its complexity.


Ease of the assimilation of non-resident taxpayers to resident taxpayers

The assimilation of non-resident taxpayers to resident taxpayers has been facilitated by means of as well the introduction of a new assimilation criterion as the extension of the current 90% threshold.

(a) Introduction of a new assimilation criterion

Currently, only non-resident taxpayers whose worldwide income is taxable for at least 90% in Luxembourg could be treated for Luxembourg tax purposes as a resident taxpayer. From now on, non-resident taxpayers can also be treated for Luxembourg tax purposes as a resident taxpayer if their foreign income does not exceed EUR 13,000, however regardless of the previously mentioned 90% threshold requirement.

To be noted that non-resident taxpayers whose worldwide income is taxable for at least 90% in Luxembourg can continue to be treated for Luxembourg tax purposes as a resident taxpayer even if their foreign income exceeds EUR 13,000.

For married non-resident couples taxed jointly, the new assimilation criterion must be met by one of the spouses only, provided that such spouse has also other taxable income in Luxembourg.

(b) Extension of the current 90% threshold

Recently, cross-border workers have seen changes in the approaches of the neighbouring tax authorities. Indeed, the latter have started to tax, in compliance with the provisions of applicable double tax treaties, employees working for and remunerated by Luxembourg employers in respect of any work performed in or out of their local jurisdiction, provided that such employees were resident of this jurisdiction.

To take into account this recent phenomenon, the assimilation criterion requiring that the worldwide income must be taxable for at least 90% in Luxembourg is broadened on a fictitious basis. Indeed, income from non-resident employees of resident employers that is taxed by foreign tax authorities in accordance with applicable double tax treaties will be considered, based on a pure fiction approach, as Luxembourg taxable income for the computation of the 90% threshold. However, this fiction is limited to an income up to 50 working days and applied for the computation of the 90% threshold only.

For married non-resident couples taxed jointly, the new 90% threshold must be complied with by one of the spouses only.


Enlargement of the inheritance tax regime exemption

An inheritance tax exemption was until now only available between married couples provided that the latter had common descendants. From now on, this exemption will also be available for couples without common descendants, provided that they are married or live together under a registered partnership for at least three years.

This measure is in our view appropriate and respectable as it reflects within our current society the increasing number of married couples without children, respectively recomposed families without common descendants, having regularly lived together over decades. As such, it abolishes a different tax treatment close to a de facto discrimination that had no reason to exist nowadays and is in line with the aim of fairness and tax justice of the Luxembourg Government.



Main green tax measures


The Law has also introduced two new measures in line with one of the main priorities of the Luxembourg Government, which is the reduction of greenhouse gas emission.


Enlargement of the sustainable mobility measures

The sustainable mobility measures introduced by the 2017 Luxembourg Tax Reform have been extended to rechargeable electrical hybrid vehicles for private use, commonly known as PHEV (i.e., plug-in hybrid vehicle) that do not exceed the limit of 50g of CO2 per kilometre.

Resident taxpayers aged 18 or over, who have purchased such vehicles, are granted an allowance of EUR 2,500, which is half the current amount granted for the purchase of zero-emission vehicles.

This allowance is however subject to certain limitations, being that:

  • only rechargeable electrical hybrid vehicles are concerned, excluding thus all other electrical hybrid vehicles;
  • the first registration of the eligible vehicle must be made after 31 December 2017; and
  • no allowance under the sustainable mobility measures is granted if the beneficiary has benefitted from such measure during the last 4 taxation years.

One may again wonder whether a direct incentive (e.g. an aid in the context of the purchase) would have been more appropriate than a tax incentive under the form of a tax allowance, as such a direct incentive would have facilitated the acquisition of these PHEV and targeted a wider population.

Enlargement of the investment tax credits

The acquisition paid by companies of certain cars with zero emission may benefit (after the deduction of possible subsidies) from the global investment tax credit of 8% up to EUR 50,000 per eligible vehicle, and from the complementary investment tax credit of 13% without limitation.

Whilst only being available to eligible cars whose first registration has been made after 31 December 2017, this new measure is available not only for new cars bought but also for cars used under a rental or leasing agreement.

As such, this measure will be of great interest, in particular for companies requiring a large fleet of vehicles.



Other tax measures



Real estate taxation

Capital gains derived from the sale of Luxembourg real estate (including gains on the sale of land) will continue to be taxed until 31 December 2018 at one-fourth of the overall tax rate.

Indeed, this measure, introduced initially as a temporary incentive applicable during 18 months (from 1 July 2016 until 31 December 2017), has been extended to continue the efforts of the Luxembourg Government to increase the real estate offer in Luxembourg.


Introduction of a new VAT exemption

A new VAT (i.e. value added tax) exemption has been implemented for management activities of collective internal funds in life insurance (fonds d'investissement internes collectifs d'assurance-vie) whose financial risks are borne by the subscribers and that are subject to the supervision of the Luxembourg Insurance Commission (Commissariat aux Assurances).

This new exemption is in line with the political goals of the Government to increase Luxembourg's attractiveness as it will render this kind of funds far more appealing. Previously, the VAT incurred for these services was a direct and irrecoverable cost for these funds as they do not have any VAT deduction rights given their activity. Considering that in our experience, such management services are a significant part of the charge incurred by these funds, this incentive is highly appreciated by the business community and meets the request of the Luxembourg insurance sector pushing in this direction.


Exchange of information on request procedure

Further to the decision of the European Court of Justice in the Berlioz case dated 16 May 2017 (click here to read our blog on the decision), the Luxembourg Government needed to adapt the request procedure on the exchange of information.

The provisions initially included in the draft of the Law intended:

  • for the Luxembourg tax administration to ensure that the information requested is foreseeably relevant; and
  • to re-introduce an appeal before the Luxembourg administrative jurisdiction against the decision of the Luxembourg tax authorities.

However, considering the formal opposition and considerations of the Council of State (Conseil d'Etat) on the compatibility of the proceedings for annulment of the Luxembourg tax authorities' decision, this matter will now be dealt with in a separate law.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Hogan Lovells | Attorney Advertising

Written by:

Hogan Lovells

Hogan Lovells on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide

JD Supra Privacy Policy

Updated: May 25, 2018:

JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.

This Privacy Policy describes how JD Supra, LLC ("JD Supra" or "we," "us," or "our") collects, uses and shares personal data collected from visitors to our website (located at (our "Website") who view only publicly-available content as well as subscribers to our services (such as our email digests or author tools)(our "Services"). By using our Website and registering for one of our Services, you are agreeing to the terms of this Privacy Policy.

Please note that if you subscribe to one of our Services, you can make choices about how we collect, use and share your information through our Privacy Center under the "My Account" dashboard (available if you are logged into your JD Supra account).

Collection of Information

Registration Information. When you register with JD Supra for our Website and Services, either as an author or as a subscriber, you will be asked to provide identifying information to create your JD Supra account ("Registration Data"), such as your:

  • Email
  • First Name
  • Last Name
  • Company Name
  • Company Industry
  • Title
  • Country

Other Information: We also collect other information you may voluntarily provide. This may include content you provide for publication. We may also receive your communications with others through our Website and Services (such as contacting an author through our Website) or communications directly with us (such as through email, feedback or other forms or social media). If you are a subscribed user, we will also collect your user preferences, such as the types of articles you would like to read.

Information from third parties (such as, from your employer or LinkedIn): We may also receive information about you from third party sources. For example, your employer may provide your information to us, such as in connection with an article submitted by your employer for publication. If you choose to use LinkedIn to subscribe to our Website and Services, we also collect information related to your LinkedIn account and profile.

Your interactions with our Website and Services: As is true of most websites, we gather certain information automatically. This information includes IP addresses, browser type, Internet service provider (ISP), referring/exit pages, operating system, date/time stamp and clickstream data. We use this information to analyze trends, to administer the Website and our Services, to improve the content and performance of our Website and Services, and to track users' movements around the site. We may also link this automatically-collected data to personal information, for example, to inform authors about who has read their articles. Some of this data is collected through information sent by your web browser. We also use cookies and other tracking technologies to collect this information. To learn more about cookies and other tracking technologies that JD Supra may use on our Website and Services please see our "Cookies Guide" page.

How do we use this information?

We use the information and data we collect principally in order to provide our Website and Services. More specifically, we may use your personal information to:

  • Operate our Website and Services and publish content;
  • Distribute content to you in accordance with your preferences as well as to provide other notifications to you (for example, updates about our policies and terms);
  • Measure readership and usage of the Website and Services;
  • Communicate with you regarding your questions and requests;
  • Authenticate users and to provide for the safety and security of our Website and Services;
  • Conduct research and similar activities to improve our Website and Services; and
  • Comply with our legal and regulatory responsibilities and to enforce our rights.

How is your information shared?

  • Content and other public information (such as an author profile) is shared on our Website and Services, including via email digests and social media feeds, and is accessible to the general public.
  • If you choose to use our Website and Services to communicate directly with a company or individual, such communication may be shared accordingly.
  • Readership information is provided to publishing law firms and authors of content to give them insight into their readership and to help them to improve their content.
  • Our Website may offer you the opportunity to share information through our Website, such as through Facebook's "Like" or Twitter's "Tweet" button. We offer this functionality to help generate interest in our Website and content and to permit you to recommend content to your contacts. You should be aware that sharing through such functionality may result in information being collected by the applicable social media network and possibly being made publicly available (for example, through a search engine). Any such information collection would be subject to such third party social media network's privacy policy.
  • Your information may also be shared to parties who support our business, such as professional advisors as well as web-hosting providers, analytics providers and other information technology providers.
  • Any court, governmental authority, law enforcement agency or other third party where we believe disclosure is necessary to comply with a legal or regulatory obligation, or otherwise to protect our rights, the rights of any third party or individuals' personal safety, or to detect, prevent, or otherwise address fraud, security or safety issues.
  • To our affiliated entities and in connection with the sale, assignment or other transfer of our company or our business.

How We Protect Your Information

JD Supra takes reasonable and appropriate precautions to insure that user information is protected from loss, misuse and unauthorized access, disclosure, alteration and destruction. We restrict access to user information to those individuals who reasonably need access to perform their job functions, such as our third party email service, customer service personnel and technical staff. You should keep in mind that no Internet transmission is ever 100% secure or error-free. Where you use log-in credentials (usernames, passwords) on our Website, please remember that it is your responsibility to safeguard them. If you believe that your log-in credentials have been compromised, please contact us at

Children's Information

Our Website and Services are not directed at children under the age of 16 and we do not knowingly collect personal information from children under the age of 16 through our Website and/or Services. If you have reason to believe that a child under the age of 16 has provided personal information to us, please contact us, and we will endeavor to delete that information from our databases.

Links to Other Websites

Our Website and Services may contain links to other websites. The operators of such other websites may collect information about you, including through cookies or other technologies. If you are using our Website or Services and click a link to another site, you will leave our Website and this Policy will not apply to your use of and activity on those other sites. We encourage you to read the legal notices posted on those sites, including their privacy policies. We are not responsible for the data collection and use practices of such other sites. This Policy applies solely to the information collected in connection with your use of our Website and Services and does not apply to any practices conducted offline or in connection with any other websites.

Information for EU and Swiss Residents

JD Supra's principal place of business is in the United States. By subscribing to our website, you expressly consent to your information being processed in the United States.

  • Our Legal Basis for Processing: Generally, we rely on our legitimate interests in order to process your personal information. For example, we rely on this legal ground if we use your personal information to manage your Registration Data and administer our relationship with you; to deliver our Website and Services; understand and improve our Website and Services; report reader analytics to our authors; to personalize your experience on our Website and Services; and where necessary to protect or defend our or another's rights or property, or to detect, prevent, or otherwise address fraud, security, safety or privacy issues. Please see Article 6(1)(f) of the E.U. General Data Protection Regulation ("GDPR") In addition, there may be other situations where other grounds for processing may exist, such as where processing is a result of legal requirements (GDPR Article 6(1)(c)) or for reasons of public interest (GDPR Article 6(1)(e)). Please see the "Your Rights" section of this Privacy Policy immediately below for more information about how you may request that we limit or refrain from processing your personal information.
  • Your Rights
    • Right of Access/Portability: You can ask to review details about the information we hold about you and how that information has been used and disclosed. Note that we may request to verify your identification before fulfilling your request. You can also request that your personal information is provided to you in a commonly used electronic format so that you can share it with other organizations.
    • Right to Correct Information: You may ask that we make corrections to any information we hold, if you believe such correction to be necessary.
    • Right to Restrict Our Processing or Erasure of Information: You also have the right in certain circumstances to ask us to restrict processing of your personal information or to erase your personal information. Where you have consented to our use of your personal information, you can withdraw your consent at any time.

You can make a request to exercise any of these rights by emailing us at or by writing to us at:

Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

You can also manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard.

We will make all practical efforts to respect your wishes. There may be times, however, where we are not able to fulfill your request, for example, if applicable law prohibits our compliance. Please note that JD Supra does not use "automatic decision making" or "profiling" as those terms are defined in the GDPR.

  • Timeframe for retaining your personal information: We will retain your personal information in a form that identifies you only for as long as it serves the purpose(s) for which it was initially collected as stated in this Privacy Policy, or subsequently authorized. We may continue processing your personal information for longer periods, but only for the time and to the extent such processing reasonably serves the purposes of archiving in the public interest, journalism, literature and art, scientific or historical research and statistical analysis, and subject to the protection of this Privacy Policy. For example, if you are an author, your personal information may continue to be published in connection with your article indefinitely. When we have no ongoing legitimate business need to process your personal information, we will either delete or anonymize it, or, if this is not possible (for example, because your personal information has been stored in backup archives), then we will securely store your personal information and isolate it from any further processing until deletion is possible.
  • Onward Transfer to Third Parties: As noted in the "How We Share Your Data" Section above, JD Supra may share your information with third parties. When JD Supra discloses your personal information to third parties, we have ensured that such third parties have either certified under the EU-U.S. or Swiss Privacy Shield Framework and will process all personal data received from EU member states/Switzerland in reliance on the applicable Privacy Shield Framework or that they have been subjected to strict contractual provisions in their contract with us to guarantee an adequate level of data protection for your data.

California Privacy Rights

Pursuant to Section 1798.83 of the California Civil Code, our customers who are California residents have the right to request certain information regarding our disclosure of personal information to third parties for their direct marketing purposes.

You can make a request for this information by emailing us at or by writing to us at:

Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

Some browsers have incorporated a Do Not Track (DNT) feature. These features, when turned on, send a signal that you prefer that the website you are visiting not collect and use data regarding your online searching and browsing activities. As there is not yet a common understanding on how to interpret the DNT signal, we currently do not respond to DNT signals on our site.

Access/Correct/Update/Delete Personal Information

For non-EU/Swiss residents, if you would like to know what personal information we have about you, you can send an e-mail to We will be in contact with you (by mail or otherwise) to verify your identity and provide you the information you request. We will respond within 30 days to your request for access to your personal information. In some cases, we may not be able to remove your personal information, in which case we will let you know if we are unable to do so and why. If you would like to correct or update your personal information, you can manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard. If you would like to delete your account or remove your information from our Website and Services, send an e-mail to

Changes in Our Privacy Policy

We reserve the right to change this Privacy Policy at any time. Please refer to the date at the top of this page to determine when this Policy was last revised. Any changes to our Privacy Policy will become effective upon posting of the revised policy on the Website. By continuing to use our Website and Services following such changes, you will be deemed to have agreed to such changes.

Contacting JD Supra

If you have any questions about this Privacy Policy, the practices of this site, your dealings with our Website or Services, or if you would like to change any of the information you have provided to us, please contact us at:

JD Supra Cookie Guide

As with many websites, JD Supra's website (located at (our "Website") and our services (such as our email article digests)(our "Services") use a standard technology called a "cookie" and other similar technologies (such as, pixels and web beacons), which are small data files that are transferred to your computer when you use our Website and Services. These technologies automatically identify your browser whenever you interact with our Website and Services.

How We Use Cookies and Other Tracking Technologies

We use cookies and other tracking technologies to:

  1. Improve the user experience on our Website and Services;
  2. Store the authorization token that users receive when they login to the private areas of our Website. This token is specific to a user's login session and requires a valid username and password to obtain. It is required to access the user's profile information, subscriptions, and analytics;
  3. Track anonymous site usage; and
  4. Permit connectivity with social media networks to permit content sharing.

There are different types of cookies and other technologies used our Website, notably:

  • "Session cookies" - These cookies only last as long as your online session, and disappear from your computer or device when you close your browser (like Internet Explorer, Google Chrome or Safari).
  • "Persistent cookies" - These cookies stay on your computer or device after your browser has been closed and last for a time specified in the cookie. We use persistent cookies when we need to know who you are for more than one browsing session. For example, we use them to remember your preferences for the next time you visit.
  • "Web Beacons/Pixels" - Some of our web pages and emails may also contain small electronic images known as web beacons, clear GIFs or single-pixel GIFs. These images are placed on a web page or email and typically work in conjunction with cookies to collect data. We use these images to identify our users and user behavior, such as counting the number of users who have visited a web page or acted upon one of our email digests.

JD Supra Cookies. We place our own cookies on your computer to track certain information about you while you are using our Website and Services. For example, we place a session cookie on your computer each time you visit our Website. We use these cookies to allow you to log-in to your subscriber account. In addition, through these cookies we are able to collect information about how you use the Website, including what browser you may be using, your IP address, and the URL address you came from upon visiting our Website and the URL you next visit (even if those URLs are not on our Website). We also utilize email web beacons to monitor whether our emails are being delivered and read. We also use these tools to help deliver reader analytics to our authors to give them insight into their readership and help them to improve their content, so that it is most useful for our users.

Analytics/Performance Cookies. JD Supra also uses the following analytic tools to help us analyze the performance of our Website and Services as well as how visitors use our Website and Services:

  • HubSpot - For more information about HubSpot cookies, please visit
  • New Relic - For more information on New Relic cookies, please visit
  • Google Analytics - For more information on Google Analytics cookies, visit To opt-out of being tracked by Google Analytics across all websites visit This will allow you to download and install a Google Analytics cookie-free web browser.

Facebook, Twitter and other Social Network Cookies. Our content pages allow you to share content appearing on our Website and Services to your social media accounts through the "Like," "Tweet," or similar buttons displayed on such pages. To accomplish this Service, we embed code that such third party social networks provide and that we do not control. These buttons know that you are logged in to your social network account and therefore such social networks could also know that you are viewing the JD Supra Website.

Controlling and Deleting Cookies

If you would like to change how a browser uses cookies, including blocking or deleting cookies from the JD Supra Website and Services you can do so by changing the settings in your web browser. To control cookies, most browsers allow you to either accept or reject all cookies, only accept certain types of cookies, or prompt you every time a site wishes to save a cookie. It's also easy to delete cookies that are already saved on your device by a browser.

The processes for controlling and deleting cookies vary depending on which browser you use. To find out how to do so with a particular browser, you can use your browser's "Help" function or alternatively, you can visit which explains, step-by-step, how to control and delete cookies in most browsers.

Updates to This Policy

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

Contacting JD Supra

If you have any questions about how we use cookies and other tracking technologies, please contact us at:

- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.