The Luxembourg VAT return

Accounting & Finance / Tax
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Training Description

Every day, you receive invoices with and without VAT: is that correct? How to book them? How can I properly declare them in my company’s or clients' VAT return? How can I correct errors? What is the taxation procedure?

To answer these questions, we offer you this training THE LUXEMBOURG VAT RETURN. After one hour of presentation of the reporting obligations and procedures, we will put the basic principles into practice. On the basis of practical cases lived through, we will fulfill all the reporting obligations.

You will thus be able to correctly establish the VAT reporting obligations of your company and your customers.



Program



Theory (1h)

  1. Key role in the VAT system
  2. The three « regimes » (special scheme for SME, simplified, standard)
    & their reporting obligations (returns, recapitulative statement,
    Intrastat).
  3. VATMoss return (New rules applicable since 01.01.2019 and as from 01.01.2021)
  4. Taxation process (Means of proofs, tax inspection, procedures and
    appeals, fines, statute of limitations). Assessment notices and
    statements of account issued by the VAT Administration.

Practice (3h): Preparation of VAT returns based on the following situations

  1. Taxable transaction with full input VAT deduction (license).
  2. An exempt company without input VAT deduction right (GP of an AIF).
  3. Granting of interest-bearing loans to EU and non-EU recipients.
  4. Exploitation of immovable properties located abroad (Medical care center, shopping and office center).
  5. Commercial activities (imports, triangulations, sales in Luxembourg and abroad).
  6. B2B and B2C sales of electronic services in EU and Russia.
  7. Multiple activities: holding of participations, exploitation of IP, granting of interest-bearing loans and recharge of costs.

 

Duration

4 Hours

Start date 1

Mar 14 2020

Learning Objectives

At the end of the training, participants will be able

  • to identify which regime is applicable and to know VAT reporting obligations and deadlines,
  • to prepare periodical and annual VAT returns,
  • to read assessment notices and statements of account issued by the VAT Administration.

Assessment

None

Language

English

For Whom

Any person involved in the preparation of VAT returns.

Finance directors, accountants, chartered accountants.

Managers, business owners (commercial or holding activity).


Prerequisites

None

Number of Participants

6 (min) - 14 (max)

Order Additional

Processing Fees (3%): 12.00 EUR

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