The Registration Duties, Estates, and VAT Authority is excited to introduce a new online system for filing subscription tax returns for Undertakings for Collective Investment (UCI), Specialized Investment Funds (SIF), and Reserved Alternative Investment Funds (RAIF). This progressive update is now available via the MyGuichet.lu platform.
Transition Period for Old and New Systems
Key Point: A two-year transition phase will allow both existing and new reporting systems to function in tandem, concluding in August 2026. During this time, users are encouraged to adapt to the new procedures while still having the option to use the current system. The newly implemented procedures aim to enhance the reporting experience by offering clearer guidance to declarants, making the process of managing and controlling subscription tax declarations more efficient and user-friendly.
Highlights of the New Declaration Process
The introduction of this updated system brings several exciting changes, including:
- Explanatory Notes: Additional notes have been integrated to assist the declarant in submitting accurate returns.
- Automatic Currency Conversion: Amounts in currencies other than the euro will now be automatically converted using the European Central Bank’s exchange rate, streamlining international transactions.
- Provisional Declarations: A new option allows hedge funds to submit provisional tax declarations when the net asset value is unattainable.
- Modified CSSF Formats: The format for reporting CSSF identification numbers has been updated for both legal entities and individual compartments within funds.
- Enhanced Fund Data Reporting: Changes have been made to the format required for declaring original and target fund data, essential for the “fund of funds” exemption.
- Summary Page Upon Completion: A summary page will now be provided at the end of the filing process, detailing the entered data for verification.
Additional Data Requirements
With these changes, several new data requirements must be noted for utilizing the updated format:
- CSSF Number: Declarants must provide the CSSF number of each UCI, SIF, or RAIF legal entity.
- Sub-Fund CSSF Details: Documentation of the CSSF numbers for sub-funds specific to various reporting frameworks is now necessary.
- Identification of Funds: Under the “fund of funds” regime, both original and target fund identifications must include the corporate names along with their CSSF numbers.
- Declarant Identification: The legal entity responsible for filing must include its corporate name and national identification number (matricule).
Next Steps for Declarants
The administration strongly encourages all parties responsible for submitting subscription tax returns to familiarize themselves with the new format and engage with the system during the two-year transition period. Testing the new format now will ensure a smoother transition before the old system becomes obsolete. For any inquiries or assistance regarding the new procedures, please don’t hesitate to reach out. The administration is available for your questions.
This modernization represents a significant improvement in the tax return filing process, promoting efficiency and clarity. As we embrace these enhancements, the Registration Duties, Estates, and VAT Authority looks forward to supporting users throughout this transition.
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