Subscription tax (taxe d'abonnement)

Last update

Go to online services and forms

The subscription tax (taxe d'abonnement) is a registration tax levied on negotiable securities issued by:

  • Undertakings for Collective Investment (UCI);
  • Specialised Investment Funds (SIF);
  • Reserved Alternative Investment Funds (RAIF);
  • Family Wealth Management Companies (sociétés de gestion de patrimoine familial - SPF).

The tax must be declared and paid every quarter.

Who is concerned?

The subscription tax must be declared and paid by:

  • Undertakings for Collective Investment (UCI);
  • Specialised Investment Funds (SIF);
  • Reserved Alternative Investment Funds (RAIF);
  • Family Wealth Management Companies (SPF) that are:
    • designed to operate as investment companies; and
    • intended solely for natural persons as a vehicle for managing their personal assets.

Deadlines

The subscription tax must be declared and paid, after the end of each quarter, within the first 20 days of the following quarter, namely:

  • by 20 April at the latest for the 1st quarter;
  • by 20 July at the latest for the 2nd quarter;
  • by 20 October at the latest for the 3rd quarter;
  • by 20 January at the latest for the 4th quarter.

How to proceed

Declaration procedure on MyGuichet.lu

The subscription tax must be declared electronically on the MyGuichet.lu platform (all links to the online assistants are available under 'Forms / Online services' on this page).

The subscription tax office no longer accepts declarations in paper format.

MyGuichet.lu declarations by fund/company

Subscription tax declarations on MyGuichet.lu must be filed using the interactive assistants (see section entitled 'Forms / Online services').

Each of these assistants:

  • is designed to be used for declarations for a single fund/company; and
  • pre-calculates the amounts of the subscription tax based on the declaration.

To facilitate the input of the data required for the declaration, the data can be uploaded to MyGuichet.lu as an XML file, whose structure is defined in the XSD files that can be downloaded from the 'Publications' section, under 'For more information'.

MyGuichet.lu multi-fund/multi-company declarations

Declarants who need to file a large number of declarations have the option of submitting multi-fund/multi-company XML files.

Although this mode of submission may only be used for one type of fund/company at a time (UCI, SIF, RAIF or SPF), it can be used to file declarations for up to 50 funds or companies.

Unlike the assistants for a single fund or company, the multi-fund/multi-company declaration assistant:

  • does not perform any checks other than primarily syntax checks, which are performed on the uploaded XML data; and
  • does not calculate the tax amounts due.

The uploaded XML files must contain all of the required information (e.g., period of activity of the fund/company during the quarter, exchange rates and asset-value calculations in EUR, associated subscription tax calculations, etc.).

Multi-fund/multi-company declarations are particularly suited to companies that:

  • need to declare a large number of funds or companies;
  • wish to automatically generate XML files to file their declarations on the MyGuichet.lu platform.
The XSD files that define the structure of the XML data can be downloaded from the ' Publications' section under ' For more information'.

Correction of declarations

To correct a declaration that has already been submitted, it is sufficient to file a new declaration for the same quarter. The original declaration will be automatically cancelled and replaced by the 2nd declaration.

Tax base for the subscription tax

The tax base for the subscription tax due by UCIs, SIFs and RAIFs comprises the totality of their net assets, as valuated on the last day of each quarter.

The tax base for the subscription tax due by the SPFs is:

  • the amount of its paid-up share capital;
  • to which are added, where applicable, any share premiums plus the portion of debt, in whatever form, that exceeds eight times the amount of the paid-up share capital plus any share premiums existing on 1 January or, if the SPF was incorporated in the course of the year, on the date of incorporation.

Subscription tax rate

General information

Since the subscription tax is a quarterly tax, the amount obtained by multiplying the applicable rate with the tax base is then divided by 4 to obtain the amount that corresponds to the quarterly tax payable.

This division is done automatically in the MyGuichet.lu form and does not need to be carried out by the declarant.

UCI

UCIs are subject to an annual subscription tax at a rate of 0.05 % of their net assets. This rate can be reduced to 0.01 % under certain conditions. Several categories of exemptions are also provided for under the conditions laid down in the law on UCIs.

With regard to the reduced rates that apply to net assets invested in sustainable economic activities:

  • if the part represents at least 5 % of the total net assets of the UCI or of the individual compartment of an umbrella UCI, the rate is 0.04 %;
  • if the part represents at least 20 % of the total net assets of the UCI or of the individual compartment of an umbrella UCI, the rate is 0.03 %;
  • if the part represents at least 35 % of the total net assets of the UCI or of the individual compartment of an umbrella UCI, the rate is 0.02 %;
  • if the part represents at least 50 % of the total net assets of the UCI or of the individual compartment of an umbrella UCI, the rate is 0.01 %;

These rates are only applicable after transmission to the Registration Duties, Estates and VAT Authority (AED) of a certified statement issued by an approved statutory auditor.

SIF

SIFs are subject to an annual subscription tax at a rate of 0.01 % of their net assets. Several categories of exemptions are also provided for under the conditions laid down in the law on SIFs.

RAIF

RAIFs are subject to an annual subscription tax at a rate of 0.01 % of their net assets. Several categories of exemptions are also provided for under the conditions laid down in the law on RAIFs.

SPF

Family Wealth Management Companies (SPFs) are subject to an annual subscription tax at a rate of 0.25 %, where the amount of tax cannot be less than EUR 100 or more than EUR 125,000 a year.

Annual statements and certificates

Certified statement for UCIs investing in sustainable economic activities

For UCIs investing in sustainable economic activities and wishing to benefit from the applicable reduced rates, a certified statement must be issued by an approved statutory auditor.

This statement:

  • confirms the share (as a percentage) of the net assets of a UCI or an individual compartment of an umbrella UCI that is invested in sustainable economic activities;
  • must be transmitted electronically via MyGuichet.lu to the AED:
    • at the time of the first declaration of the subscription tax after the finalisation of the annual report, or where applicable, the assurance report; or
    • separately from the quarterly declaration until the last day of the following quarter, i.e. until:
      • 31 March, instead of 20 January;
      • 30 June, instead of 20 April;
      • 30 September, instead of 20 July; and
      • 31 December, instead of 20 October.

Please note that if a certified statement is filed:

  • before 31 March of year N, the reduced rate will apply from 1 January to 31 December of year N;
  • before 30 June of year N, the reduced rate will apply from 1 April of year N to 31 March of year N+1;
  • before 30 September of year N, the reduced rate will apply from 1 July of year N to 30 June of year N+1;
  • before 31 December of year N, the reduced rate will apply from 1 October of year N to 30 September of year N+1;

Further information can be found in this circular (pages 1 to 4).

Certificates of conformity for SPFs

The certificate of conformity:

  • must be submitted annually, by 31 July at the latest, to the AED;
  • can be filed electronically via MyGuichet.lu.

Further information can be found in this circular (page 5).

Online services and forms

Online services

Déclaration de taxe d'abonnement - fonds d'investissements alternatifs réservés (FIAR)

Other language(s)

Déclaration de taxe d'abonnement - fonds d'investissement spécialisés (FIS)

Other language(s)

Déclaration de taxe d'abonnement - organismes de placement collectif (OPC)

Other language(s)

Déclaration de taxe d'abonnement - société de gestion de patrimoine familial (SPF)

Other language(s)

Déclaration de taxe d'abonnement - dépôt du certificat de conformité pour les SPF

Déclaration de taxe d'abonnement - dépôt de l'attestation annuelle pour les OPC

Who to contact

Registration Duties, Estates and VAT Authority (AED)

Subscription Tax Department

  • Registration Duties, Estates and VAT Authority Subscription Tax Department (taxe d'abonnement)

    Address:
    308, route d’Esch L-1471 Luxembourg Luxembourg
    BP 1004, L-1010 Luxembourg
    Website:
    https://pfi.public.lu

Related procedures and links

Links

Further information

Legal references

Publications

Your opinion matters to us

Tell us what you think of this page. You can leave us your feedback on how to improve this page. You will not receive a reply to your feedback. Please use the contact form for any specific questions you might have.

Fields marked with an asterisk (*) are mandatory.

Did you find what you were looking for?*
How would you rate this page?*
Very poor
Very good

Leave a comment to help us improve this page. Do not provide any personal information such as your email address, name, telephone number, etc.

0/1000

Please rate this page

Your opinion has been submitted successfully!

Thank you for your contribution. If you need help or have any questions, please use the contact form.

Would you like to help us make digital public services more user-friendly by submitting your suggestions for improvement?

Then visit Zesumme Vereinfachen, the online participation platform dedicated to administrative simplification in Luxembourg.

Let's simplify things together

An error occurred

Oops, an error has been detected during your form processing.