Luxembourg VAT compliance 2013 update
Fri 4th Jan 2013
Luxembourg has confirmed a range of VAT compliance changes this week which are to be implemented for 1 January 2013. They include of number of changes as part of the implementation of the EU electronic VAT Directive.
The principle changes include:
- Luxembourg is to implement all of the requirements of the EU e-invoicing directive
- Electronic filing of VAT returns and intra-community sales lists will be compulsory. There is an exception for businesses only filing returns on an annual basis.
- The trigger for a VAT liability on receipt of payments has increase from €300,000 to €500,000
- The threshold for charging Luxembourg VAT on the supply of goods or services is to rise to €25,000
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