On 24 December 2015, the Luxembourg Parliament transposed in national law the Directive 2014/107/EU.
The new Rules have entered into force on 1 January 2016, with the first wave of requirements, in particular the on-boarding of New Account Holders. The first reporting under CRS law will be performed by the end of June 2017 on 2016 financial account information.
Deep dive "health check":
According to the CRS Luxembourg law, 24 December 2015, each Luxembourg Reporting Financial Institution will have to file a report to the Luxembourg tax authorities prior to 30 June of each year. This report will have to include each reportable account and has to fulfil certain criteria.
We can help you implement a reporting tool in your company or perform a managed service.
PwC has developed a software solution that allows clients to comply with their reporting obligations to the local tax authorities through an automated process.
We can help and support your journey at every step:
We deploy the right solution for an effective balance between manual and digital work during the implementation & compliance efforts.
Our reporting tool keeps data in your internal IT environment until the final report is sent to the authorities.
If you'd like to outsource the preparation and/or the filing of your CRS report, we can assist you during the entire process.
We provide you with a user-friendly solution to fulfil your obligations in a timely manner.
We've developed our own reporting tool that allows us to offer you a complete line of services including data collection, validation, reformatting and submission to the tax authorities.
At PwC Luxembourg, we've already assisted our clients to file their FATCA reporting in 2015 and have thus acquired significant experience and knowledge.
We'll act as depositor and we’ll use the official transmission channel to file the CRS reporting to the Administration des Contributions Directes on behalf of our clients.
Tax Partner, PwC Tax Information reporting Sàrl, PwC Luxembourg
Tel: +352 49 48 48 4031
Director, PwC Tax Information reporting Sàrl, PwC Luxembourg
Tel: +352 62133 46 18