VAT optimisation for funds | Deloitte solution


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VAT optimisation for fundsYour challenge

  • Cross-border transactions impose various complex VAT reporting obligations considerably amended since 1st January 2010. Determining the correct VAT treatment is more and more complex.  The current VAT Directive and the relevant ECJ Court Cases are still opened to local interpretation regarding the scope of the VAT exemption on management and distribution services rendered to funds which make the determination of the appropriate VAT treatment for the services rendered to funds particularly difficult.
  • Furthermore, the VAT authorities are more and more demanding with the level of details required in the annexes to enclose to the VAT return form itself (e.g. justifications for the non-application of VAT, reconciliation with the accounts) in a context where the recent regulations have considerably increased their means of control. Not complying with this level of details can lead to discretionary VAT re-assessment by the VAT authorities with additional VAT payable amounts.

Our solution

Our Luxembourg VAT team has a strong experience with the fund industry and is able to deal with the VAT aspects arising from the local and cross-border transactions impacting Luxembourg management companies and funds.

We offer a full range of VAT services dedicated to funds:

  • VAT audit to identify any hidden VAT liability and/or ways of optimizations
  • Assistance with the preparation of administrative appeals further to tax re-assessments issued by the VAT authorities;
  • Preparation of VAT matrixes
  • Full range of VAT compliance services (VAT registrations, VAT returns, etc.) - our team can as well coordinate the VAT reporting obligations in each relevant country.

This flyer is also available in German.

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