-
Audit of stand-alone annual accounts
At Grant Thornton Luxembourg, our team of experts is specialised in audits of stand-alone annual accounts.
-
Audit of consolidated annual accounts
Grant Thornton Luxembourg team of experts is specialised in providing audit services to a lot of multinational which have their administrative center located in Luxembourg for whom the consolidated annual accounts have to be audited.
-
Agreed-Upon Procedures Engagements
In the case of agreed-upon procedures engagement, Grant Thornton Luxembourg performs procedures particularly requested by the client/bank and reports on the findings.
-
GDPR-CARPA Certification
Grant Thornton Audit and Assurance is accredited by the Commission Nationale pour la Protection des Données (CNPD) to provide GDPR-CARPA certifications for organisations.
-
Forensic Audit
Grant Thornton Luxembourg has the forensic and business skills to deal with the most complex situations. A multi-disciplinary team of dedicated accountants in consultation with lawyers, IT consultants, insurance experts, valuation specialists and actuaries may be engaged when necessary.
-
Supervisory Auditor (Commissaire)
Grant Thornton Luxembourg has a dedicated team of experts committed to deliver services to reserved to Supervisory Auditor or "Commissaire aux Comptes".
-
Liquidation Audit
Grant Thornton Luxembourg has a dedicated team of experts committed to deliver services to reserved to liquidation audit "Commissariat à la liquidation".
-
Assurance Engagements
Grant Thornton Luxembourg have a dedicated team of experts committed to work on audit and assurance special engagements.
-
IFRS Services
At Grant Thornton Luxembourg, our experts can help you navigate the complexity of International Financial Reporting Standards (IFRS).
-
Valuation
Grant Thornton Luxembourg helps clients evaluate and implement various strategic alternatives through our comprehensive suite of corporate value consulting services. From opinions, board solutions and services, to valuation and modeling, we can assist you with value added services throughout the transaction lifecycle.
-
Governance, Risk & Compliance
Grant Thornton Luxembourg offers comprehensive services in Governance, Risk & Compliance (GRC) tailored to meet the evolving needs of businesses in today's dynamic regulatory environment. Our commitment is to provide personalised guidance and global expertise, ensuring that your company establish robust internal controls and navigates governance challenges effectively.
-
Structuring & Modeling
Grant Thornton Luxembourg offers workable solutions to maximise your value and deliver sustainable growth. Transactions or reorganisations are significant events in the life of a business, so the stakes are high for both buyers and sellers.
-
External DPO and Data Protection Compliance
EU General Data Protection Regulation (GDPR) - The real challenge consists of remaining compliant with GDPR and in being able to prove this compliance (accountability principle). Grant Thornton Luxembourg can help you with a tailored phase approach.
-
Sustainability & ESG Services
At Grant Thornton, we recognise the need of our clients to operate responsibly and to meet the high standards posed by the sector they operate. We offer pragmatic, tailor-made solutions to our clients and we assist them to make the required transitions towards the implementation of sustainable business practices.
-
Whistleblowing services
Since May 2023, the Whistleblower Law has become effective in Luxembourg. What does this mean for your business? Our experts can advise and help you to set-up internal reporting channels and to comply with the new law.
-
Alternative Investment Services
Grant Thornton Luxembourg is a bespoke business partner to established Alternative Investment Fund (“AIF”) Managers (“AIFM”) as well as independent Managers launching start-up Funds and seeking for a single entry point in Luxembourg in order to set-up and manage their Luxembourg domiciled Funds.
-
Fund Administration
Fund Administration - Grant Thornton Luxembourg offers a full range of tailored solutions to our clients.
-
Registrar & Transfer Agency Services, Client Reporting
Grant Thornton Luxembourg provides investors with confirmations, final Contract Notes and regular statements upon finalisation of the Fund’s Net Asset Value, We handle all wire payments and transfers, including the processing of distribution dividend payments, and perform in-depth Anti-Money Laundering Counter Terrorism Financing and Know-Your Client due diligence checks on investors.
-
Fund set-up, Launch & Corporate life
High-quality product structuring and legal services have become a crucial tool enabling industry players to get through the major changes impacting their business development, strategy and organisation as a whole. Our Investment Management practice at Grant Thornton Luxembourg is your one-stop place for expert advice combining pragmatism and a unique in-depth knowledge of the Luxembourg market.
-
AML Compliance Services
Grant Thornton Luxembourg helps its Clients to keep compliant with AML-CTF laws and regulations and provide an expert skilled team.
-
Regulatory Reporting Delivery
Grant Thornton Luxembourg has set up a Business Process Outsourcing Solution that manages and mutualises regulatory expertise, reporting solutions and skilled human resources
-
Legal Support & Corporate Services
Grant Thornton Luxembourg delivers Legal Support & Corporate services.
-
Accounting & Reporting Services
Grant Thornton Luxembourg may explore the specific characteristics of your company in order to provide a personalised assistance in the fields of Accounting & Reporting services.
-
Corporate Tax Compliance
Grant Thornton Luxembourg may explore the specific characteristics of your company in order to provide a personalised assistance in the fields of corporate tax compliance.
-
Direct Corporate Tax Advice
Grant Thornton Luxembourg understand the complexity of national and international tax laws. We can unlock your potential for local and international growth.
-
VAT and Other Indirect Tax Compliance
Handling the day-to-day VAT compliance obligations requires being close to your business. Our VAT compliance business line assists you to ensure that long term reporting processes are implemented and respected with the aim of safeguarding a proper and timely VAT filing. This is important for achieving a VAT compliant environment and mitigating local VAT risks.
-
VAT and Other Indirect Tax Advice
Our VAT advisory business line is dedicated to keeping you up to date with amended VAT legislation and changes in the administrative practice in Luxembourg and worldwide with our Grant Thornton global VAT network. Specialists review and comment on new EU directives and the latest case law by the Court of Justice of the European Union in order to provide you with advice tailored to your specific needs.
-
Transaction & Reorganisation
Reorganisations - Transaction Planning - Tax Structuring - M&A. Companies strive to improve their market position with take-overs, mergers and demergers. Strategy and financial tactics are important elements in this respect. Grant Thornton tax specialists may intervene in all stages of the transaction.
-
Transfer Pricing
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public. Grant Thornton Luxembourg can help you manage your transfer pricing risks and find opportunities.
-
Tax - Financial Services & Operational Tax
Our Tax - Financial Services team provides tax advisory services relevant for the Financial Services Industries and Operational Tax assistance. This includes tax advice, automatic exchange of information (FATCA, CRS, DAC 6, DAC 7 and DAC 8), advisory and compliance assistance regarding the US Qualified Intermediary (QI) regime, assistance regarding withholding tax reclaims, investor tax reporting and tax structuring in the context of Islamic finance.
-
Personal Tax
Our experienced multilingual Personal Tax Team is keen to give you tailored solutions, optimise your situation and help you make decisions. We could assist you with: income tax returns, vat returns, tax assessments, contacts with the tax authorities and assistance by tax audit or tax litigation, tax matters advices, inheritance tax matters, international assignments and trainings.
-
Cross-Border Tax
Tax policies are constantly evolving and there are a number of complex changes on the horizon that could significantly affect your business. We can help you with practical advice such as VAT and direct tax.
-
Corporate Finance
Exploring the strategic options available to you as a business or shareholder, advising and project managing the chosen solution, Grant Thornton Luxembourg provide a truly integrated corporate finance offering. Merger & acquisition, buying a business, selling a business, transaction piloting,raising finance to support your business plans.Vendor due diligence, acquisition due diligence, reporting accountant work,operational due diligence, management assessment.
-
Expatriate Tax
Although international employment has become a standard practice in business life, employers and their assignees are still faced with numerous questions in this area. Grant Thornton Luxembourg can help you to be one step ahead.
-
Set-up, Restructuring & Business Planning
Grant Thornton Luxembourg is delighted to add value during the implementation of your businesses and to be given the opportunity to grow together with you. Relying on our professionals’ financial expertise will allow you to take dynamic but sustainable decisions.
-
Corporate Secretarial Services
Grant Thornton Luxembourg provides corporate secretarial services to enable our clients to comply with their legal and administrative obligations in Luxembourg.
-
Liquidation & Insolvency
Grant Thornton Luxembourg can draw on years of experience in the areas of liquidation and insolvency and then make sensible recommendations on how best to deal with your financial crisis.
-
Human Resources Management & Payroll
Grant Thornton Luxembourg has been delivering since 1987 Payroll and Human Resources services to private and institutional clients. A team of highly qualified collaborators manages around 7 000 payslips per month and offers related consulting services.
-
Information Security
Is your organisation resilient to information security threats? Whether you're a large enterprise or a small business, Grant Thornton is committed to providing comprehensive security services tailored to your needs.
-
IT Audit
Grant Thornton internal audit team provides IT audit services as part of your internal audit or as part of any specific IT audit that is required (ad’hoc , assurance reports, external audits).
-
MySmartOffice
Grant Thornton Luxembourg offers a new complete online accounting and consulting solution for SMEs named MySmartOffice to access financial and operational information instantly online.
Exceptional measures COVID-19
06 Apr 2020You will find below information on the measures decided by the government in relation to the exceptional situation generated by the COVID-19.
Adjustment of the extraordinary leave for family reasons
As part of the Government’s measures to reduce the spread of COVID-19, the authorities have designed a new form (available since March 30, 2020) for parents who must take care of their child/children under the age of 13, and/or having accomplished 18 years for child/children with disabilities, by taking the “extraordinary leave for family reasons”.
However, this alternative must be taken only if there is no other option available to ensure the child care. Indeed, if one of the two parents is not working, the other parent cannot benefit from the leave. In principle, it is not possible anymore, since March 30, 2020, for one of the parents to take the extraordinary leave for family reasons if the other parent (or member of the household) is in a short-time working scheme as stated under articles L. 511-1 and following of the Labor Code.
The two parents (or partners) cannot take the extraordinary leave for family reasons at the same time.
When both parents are teleworking, such restrictions do not apply. A parent who is teleworking cannot ensure the child care, thus it is possible to alternate the leave between the parents.
If a first form had already been submitted, the applicants must make a request again on Guichet.lu using a new form from Monday 30 March 2020.
The extraordinary leave put in place in the context of the COVID-19 crisis is time-limited, and will not impact the usual family leave balance. It has been extended until the end of the suspension of childcare facilities and schools activity, currently expected for May 3, 2020 included.
Sending of the form
Considering the exceptional context, it is possible to send the form electronically: it must be printed, signed manually, scanned or photographed, and sent by email to the following address: cns-crf@secu.lu
Important: do not forget to mention the 13-digit national identification number in the subject of the email.
The sending by post is still possible: in this case the form must be printed, signed manually and sent to the following address: CNS Indemnités pécuniaires L-2980 Luxembourg.
Creation of the leave for family support
To support employees in the private sector and self-employed workers who must take care of an adult dependent person with whom they live (elderly dependent person or disabled adult), and to offset the closure (due to the crisis situation) of the authorised body taking care of the person in normal times, the leave for family support has been implemented with retroactive effect from March 18, 2020. Its duration cannot exceed the duration of the crisis, and depends on the resumption of activities, or part of the activities of the authorised body.
The employee wishing to benefit from this leave must request a certificate via a form that can be downloaded on the website of the Ministry of Families, Integration and the Greater Region, or on Guichet.lu This certificate must be sent without delay to the employer and the CNS.
The employee cannot benefit from the leave if himself or another member of the household falls under the short-time working scheme during the period for which the leave is requested, or if another option is available for the care. In addition, the leave cannot be taken at the same time by the members of a household, but it can be split between them.
Changed conditions for granting short-time working
in the event of force majeure linked to the COVID-19 crisis
Considering the current exceptional situation and the consequences on companies and employees lives, the conditions to apply for and benefit from short-time working have been adjusted.
In order to accelerate and simplify the procedure to apply for short-time working in the event of force majeure linked to the COVID-19 crisis, a new automated system implemented by ADEM (Agence pour le Développement de l’Emploi) enables companies to submit their short-time working form online on Guichet.lu website.
Applications must be submitted at the latest the 12th of the concerned month.
The companies submitting the application must use a secured authentication (e.g.: Luxtrust, Token) or an electronic ID card.
The data collected will be examined by ADEM in an automated way.
Important: from Friday March 27, 2020, the applicants must mandatorily use the form available on Guichet.lu to submit their application (all requests via post, email or fax will no longer be accepted).
However, applications will be reviewed in two possible ways:
- If the company remains open, but has to slow down its activity, then the application for short-time working will be reviewed by the Comité de Conjoncture (Minister of Economy) before being processed by ADEM ;
- If the company has to close, then the application will be reviewed directly by ADEM.
Reimbursement of the inactive work hours under short-time working scheme:
It is now possible to request, at the same time as the request for short-time working, an advance on the reimbursement of salary costs.
- The amount of the advance corresponds to 80% of wages, with a maximum of 250% of the unqualified minimum social wage, i.e. EUR 5.354,98 gross;
- The amount of the advance cannot be lower than the non-qualified minimum social wage, i.e. EUR 2.141,99 gross;
- The reimbursement request must be done online via a new form that should be available in the coming days on ADEM’s website.
Furthermore, the company must make a declaration of claim, within 2 months after the end of the month concerned.
- The company must provide a detailed breakdown of the inactive work hours and the indemnity advanced by the employer for each employee. ADEM will use this data to calculate the amounts actually due. If the advance received is higher than the amounts actually due, the company must reimburse the overpayment.
- The request must be made online via a reimbursement form which should be available in the coming days on ADEM’s website.
Extraordinary increase of the working time
The length of working time permitted has been exceptionally increased to a maximum of 12 hours per day during the COVID-19 crisis (10 hours per day in normal times) and 60 hours per week (48 hours in normal times).
The request mainly concerns the health care sector, but the 14 categories of sectors that must ensure the vitality of the country can also use this measure (by reference to Article 3 Paragraph (2) of the Grand-Ducal Regulation of March 18, 2020 introducing of a series of measures in the fight against COVID-19).
Among these categories are the commercial brands which mainly sell basic necessities, opticians, orthopaedist and hearing care professionals, laundry and dry-cleaning services, funeral services, breakdown, repair, moving and depollution activities, maintenance activities necessary for safety reasons.
Hence, any recourse to overtime must be subject to a detailed and justified request, and obtain the approval of the staff delegation. In case of reluctance, the Minister of Labour will concert with the unions.
Each healthcare professional having a self-employed status can benefit from a fixed-term contract as a State employee during the crisis. Exceptionally, students will be able to get fixed-term contracts of 40 hours per week (15 hours in normal times).
New tax rules for cross-border employees
The authorities have decided that the limit of teleworking days for employees working in Luxembourg and living in France, Belgium or Germany will not apply during the COVID-19 crisis.
- France – Luxembourg: from March 14, 2020 and until further notice, the days worked from home will not be considered in the count of the 29 days. The specific conditions of application will be mentioned later.
- Belgium – Luxembourg: from March 14, 2020 and until further notice, the days worked from home will not be considered in the count of the 24 days.
- Germany – Luxembourg: from March 11, 2020 and until further notice, the days worked from home will not be considered in the count of the 19 days. These measures should be legally formalised in the coming days.
Measures initiated by the CCSS
regarding the payment of social security contributions
The CCSS (Centre Commun de la Sécurité Sociale) has initiated a series of temporary measures that are applicable since April 1, 2020, and aim at facilitating the organisation of the social security contributions payment from companies and self-employed workers.
However, all social security contributions remain due.
These measures, that will be applicable until further notice, include:
- The suspension of the calculation of default interests for late payments;
- The suspension of the initiation of procedure for the forced collection of contributions;
- The suspension of the enforcement of constraints by a bailiff;
- The suspension of fines to be pronounced against employers having delays in making declarations to the CCSS.
Deadline to submit income tax returns postponed
Finally, another measure concerns the postponement of the deadline to submit the income tax returns of 2019. Indeed, the deadline is extended to June 30, 2020.
CONTACT
For more information about these exceptional measures due to COVID-19 and how Grant Thornton can help, please contact our experts at the following email address: HRpayroll@lu.gt.com.