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Luxembourg resident corporations and Luxembourg Permanent Establishments (PE) could apply for the reduction of the Net Wealth Tax (NWT), in particular by creating a 5-year unavailable NWT reserve in their annual accounts.

The Luxembourg companies have to prepare, each year, statutory annual accounts in accordance with Luxembourg legal and regulatory requirements.

Tax forms 2020 for capital companies (tax forms 500) are now available on the website of the Luxembourg Tax Authorities. The tax returns 2020 can now be filed electronically.

There are several accounting considerations the COVID-19 pandemic has triggered in relation to IFRS 9. In our view one of the most significant is in relation to hedge accounting and highly probable cash flows. Read more

Published in December 2020, the released Circular CSSF 20/758 on Central Administration, Internal Governance and Risk Management repeals CSSF Circular 12/552 and has been specificaly issued to the attention of Investment Firms.

One of the main chapter of the 20/750 CSSF Circular is Logical Security (IAM/PAM). How to comply with this point of the circular? Grant Thornton, in collaboration with Grabowsky, can assist you through advisory and solutions.

The COVID-19 crisis highlighted how important it is to react quickly to the unexpected. However, many companies were not ready for this, some of those have even been hacked due to security lack and others were not able to deploy a secure business continuity plan.

On 19 June 2018, the Luxembourg Government presented the draft bill n° 7318 (“Draft Bill”) before the Luxembourg Parliament transposing the EU Anti-Tax Avoidance Directive (“ATAD I”) into Luxembourg domestic law.

On 11 June 2018, a new circular (765-1) was issued by the Luxembourg VAT authorities (Administration de l’Enregistrement et des Domaines) in order to clarify the application of circular 765 issued on 15 May 2013 regarding the calculation of deductible input VAT for companies that have a partial VAT activity (i.e. an activity that is partially out of the scope of VAT). Our Grant Thornton Luxembourg Tax experts can help you.

Our Grant Thornton experts could help you being compliant with General Data Protection Regulation (GDPR), the European Union’s (EU) new data protection law that comes into effect on 25 May 2018.

On 13 April 2018, a draft law was introduced to the Luxembourg Parliament by the Minister of Finance in order to implement VAT grouping provisions into the Luxembourg VAT law. Grant Thornton Luxembourg will monitor the legislative procedure and keep you informed about any changes which might result from this process.

The tax administration in Luxembourg recently explained the new adjustments on the tax reform applicable as from year 2018. Who is concerned?

As part of the tax reform, the Administration des Contributions Directes (ACD) sent a letter last October, asking non-resident married employees to accept or modify the proposed tax rate for the 2018 fiscal year.

The Markets in Financial Instruments Directive (MiFID II) – arguably the largest piece of regulatory change in investment markets since 2007 – comes into force in January 2018.