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Grant Thornton Luxembourg June Data Protection Newsletter - We share clear and practical insights on the latest developments in data protection, AI, and tech regulation, helping you stay informed and compliant in this ever-changing digital landscape. Whether you manage compliance or simply want to stay safer and better informed online, this newsletter is for you.
Luxembourg companies that prepare their annual accounts in a foreign currency may be exposed to foreign exchange (FX) risk for tax purposes. Such risk could be mitigated by submitting a timely request to report the taxable income in this foreign currency.
Take control of your tax obligations and discover new opportunities. Thanks to our innovative tool, adapt your Tax Calendar 2026 to your needs and meet your tax deadlines efficiently with Grant Thornton Luxembourg.
Luxembourg Companies have to pay quarterly tax advances for Corporate Income Tax (CIT), Municipal Business Tax (MBT) and Net Wealth Tax (NWT) upon request from the Luxembourg tax authorities (LTA). Learn more
With this newsletter, Grant Thornton Luxembourg would like to draw your attention to the new ATAD III Directive, which should be implemented into the Member States’ national legislations by 30 June 2023 and come into effect by 1 January 2024.
In view of the uncertain evolution of the Covid-19 pandemic, the Luxembourg government has filed a new bill n°7916 aimed at extending the measures put in place by the law of September 23, 2020 until December 31, 2022.
Grant Thornton Luxembourg would like to point out some important guidelines and features regarding the Country-by-Country Reporting (“CbC Reporting”) laws in Luxembourg as the fiscal-year 2021 (“FY21”) is drawing to a close. This is important as the close of FY21 will bring with it the deadlines for various CbC Reporting obligations for many Luxembourg companies.
According to a public notice released on 1st October 2021 by the Luxembourg Trade and Companies Register (“RCS”), every individual already registered or to be registered with the RCS shall have to register a Luxembourg national identification number (the “LNIDN”) on the dedicated RCS portal.
CSSF has released a new Circular on 14 October for IT/Cloud Outsourcing. This new Circular replaces the prior authorisation requirement with a prior notification requirement in the event of outsourcing material activity but not business process outsourcing.
In the context of the Covid-19 crisis, a taxpayer who, before December 31, 2020, has permanently waived all or part of his or her rent for the period from January 1, 2020 to December 31, 2021, may receive a tax rebate for the reduction granted.
The new index comes into force on 1 October 2021, resulting in a 2,5% increase of wages, salaries and pensions from this date. Learn more
On 22 September 2021, the European Central Bank (“ECB”) released a report on its top-down economy-wide climate stress test.
The agreements on social and tax matters for french, belgian and german cross-border workers have been extended . Learn more
In the context of the Covid-19 crisis, a taxpayer who, before December 31, 2020, has permanently waived all or part of his or her rent for the period from January 1, 2020 to December 31, 2021, may receive a tax rebate for the reduction granted.
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.
How many times have you wondered where your invested money goes? What impact do your investments have? And what impact would that be - Positive or negative, to whom and for how long?
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