Luxembourg VAT for Foreign VAT experts
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Luxembourg VAT for Foreign VAT experts

courseType Technical Skills, Financial Sector

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Phone +352 49 48 48 4040
Mail pwcacademy@lu.pwc.com

PwC's Academy
2 rue Gerhard Mercator
L-2182 Luxembourg
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General course details

Introduction

Many multinationals set up holding and financing companies in Luxembourg. Depending on their activities, these entities may or may not  need to VAT register in Luxembourg and Luxembourg VAT  paid or self-charged may or may not be (partly) recoverable. The implementation of the VAT Package into Luxembourg law can bring new obligations for VAT registrations in Luxembourg.
Foreign sales and distribution or service companies often also trade on the Luxembourg market. Consequently, they may be confronted with Luxembourg VAT obligations or incur VAT in Luxembourg
A good understanding of the essentials of the Luxembourg VAT legislation and practice including VAT Package changes ensures the correct application and recovery of VAT and avoids exposure to claims and penalties. Moreover, it allows to minimize compliance costs and may bring about planning opportunities.
PwC's Academy is pleased to offer this training for VAT Managers and VAT accountants who already have a working knowledge of the EU VAT rules but no practical knowledge of the Luxembourg rules and practice.

Objectives

At the end of the training, attendees will be able to:  
  • assess the VAT opportunities and risks associated with transactions in or involving Luxembourg entities
  • comply with compliance requirements in Luxembourg
  • understand the organization of the Luxembourg VAT administration

Content

This training is split into two parts.   The aim of the first part is to provide the participants with an overview of the main country specific VAT rules. 
The second part is focused on VAT compliance obligations in Luxembourg with illustrative examples, including implementation of the VAT Package rules.
Part 1: Overview of Luxembourg VAT rules in practice
  • Luxembourg VAT specifics (on the basis of a comparison with the main principles in the VAT Directive)
  • administrative practice in Luxembourg: overview of the Luxembourg VAT Authorities' organization and of the Luxembourg procedural framework
  • business cases (e.g. methods of calculation of pro-rata deduction entitlements for mixed and partially taxable persons)
Part 2 : VAT compliance obligations in Luxembourg
  • Luxembourg VAT compliance obligations

  • VAT registration

  • Periodic and annual declarations

  • Annual simplified declaration

  • Recapitulative statements for intracommunities deliveries

  • Recapitulative statements for services

  • INTRASTAT declaration

  • Illustrative examples (based on VAT returns)

Pre-requisites

This training is intended for VAT accountants and VAT Managers with good knowledge on European VAT mechanisms.

Target audience

  • Managers and Financial or Fiscal directors in charge of VAT management  for Luxembourg.
  • Accountants in charge of the preparation and filing of Luxembourg VAT returns

Our lead expert

This training is coordinated by Marie-Isabelle Richardin. 

Marie-Isabelle Richardin has been with PwC’s VAT practice since 2000. Her role at PwC is to assist operators in the financial services industry with their indirect-taxation strategies to help them comply with indirect-tax obligations. She also gained experience of the international tax world by working 2 year in New York. Her role at PwC is to assist operators in the financial services industry with their indirect-taxation strategies to help them comply with indirect-tax obligations.  Marie-Isabelle is a regular speaker at conferences and training sessions on VAT for financial services. She is PwC Luxembourg’s representative in the VAT working groups such as the Luxembourg Bankers’ Association (ABBL), and the European Fund and Asset Management Association (EFAMA)..

Language

English

Number of participants

Limited to 20 participants to ensure good interactivity

Duration

One day


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