Reporting and accounting for VAT in compliance

VAT is an indirect tax which may seem relatively simple to handle. In practice, however, we see that many questions arise that are a real concern for businesses. This concern intensifies as VAT is governed by a set of rules that is regularly subject to significant changes. The numerous case-laws from the Court of Justice of the European Union, which regularly rules on the interpretations of the EU VAT legislation, further complicate the subject.

In Luxembourg, the introduction of new VAT measures since January 2017 (increase in VAT penalties, introduction of the personal and joint liability of directors, managers and managers de jure and de facto of companies) underlines the importance of constantly complying with the provisions of the Luxembourg VAT law. In particular, it is important that businesses, operating in the financial or non-financial sector, have sufficient comfort regarding the VAT treatment applied to their operations.

In order to understand the risks and opportunities associated with the application of the VAT rules, PwC's Academy is pleased to offer you this training which alternates theoretical content with practical exercise workshops, oriented towards both financial and non-financial sectors.

5 November 2024 (EN) - 9am-4pm - On site

22 April 2025 (EN) - 9am-4pm - On site

Price: 1230.00 €

Duration: 6h

Language: Available in English, French, and German. The supporting material is only available in English.

Number of participants: up to 20

You are interested in participating in this course but no sessions are currently scheduled? Please contact us and you will be added to our Show Interest list.

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Objectives

At the end of this training, participants will be able to: 

  • use a rigorous methodology to determine the VAT treatment of a basic transaction, limiting the risk of error;
  • explain the rules applicable for the recovery of input VAT;
  • identify the risks and opportunities associated with VAT in specific situations;
  • complete a VAT return and correctly fill in the input and output VAT part;
  • have a good knowledge of the VAT compliance obligations, the applicable accounting requirements and the procedures to be followed vis-à-vis the Luxembourg VAT authorities.

Content

This module presents:

Theoretical part

  • Basic VAT rules explained via the '5 questions' method:
    1. Who carries out the transaction (is it a taxable person or not)?
    2. What type of transaction is it (whether or not within the scope of VAT)?
    3. Where did the transaction take place?
    4. Is a VAT exemption applicable? 
    5. Who is the person liable for VAT (e.g. reverse charge mechanism)?
  • The different VAT rates in Luxembourg
  • VAT deduction method
  • Mandatory information on invoices
  • Electronic filing of declarations and summary statements
  • VAT and accounting: basic rules and good practices

Practical part

  • Specific exercise workshops for the financial and non-financial sectors, focusing in particular on:
    • how to complete a VAT return and a European Sales Listing of goods/services (ESL);
    • practical exercises on specific points.

Target audience

  • Financial directors

  • Professional accountants

  • Internal auditors

  • Any professional in charge of operations/filing of VAT returns (no specific VAT level required)

Our lead experts

This training is coordinated by Marie-Isabelle Richardin, Tax Partner at PwC Luxembourg in the VAT department. Sessions are led by tax specialists from PwC Luxembourg dealing with VAT transactions on a daily basis.

Marie-Isabelle Richardin, Partner, 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 in the international tax world by working 2 years in New York.

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 Investment Funds Association (ALFI), the European Fund and Asset Management Association (EFAMA) and she is chairwoman of the VAT group at LPEA.

Contact us

Contact details

PwC's Academy, Crystal Park Building, PwC Luxembourg

Tel: +352 49 48 48 4040

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