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By Eric CENTI, Partner Pablo CASABE, Senior Manager at Deloitte Luxembourg
While sometimes considered a “low profile” tax, recent developments have set Subscription Tax(1) in the spotlight. In this regard, a noticeable rise in Subscription Tax audits initiated by the Luxembourg competent tax authority(2) has been observed in recent months. Compliance with the requests of information can be challenging, as the inspectors of the AED are requesting an extensive range of information within a limited timeframe.
Subscription Tax is levied on the net asset value (NAV) of Luxembourg funds, including UCIs(3), SIFs(4), and RAIFs(5). UCIs are subject to a general rate of 0.05%, while SIFs and RAIFs are subject to a 0.01% rate. Nevertheless, the...
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