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Luxembourg VAT liabilities

  • Aug 21, 2016 | Richard Asquith

Luxembourg VAT liabilities

Luxembourg is planning to tighten responsibilities and liabilities on VAT fraud in a number of areas in a new law.  Potential changes include:

  • Fines for non compliance will extend to up to €10,000 (currently €5,000)
  • Criminal liability, which brings a potential prison term of up to 5 years, will be extended to VAT fraud
  • Penalties on VAT liabilities will be extended to up to 50% of any evaded VAT
  • Shared VAT liabilities for and persons preparing or supervising the preparation of VAT returns.  This could be applied if Luxembourg VAT rules are not followed.

VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which won International Tax Review's 2020 Tax Technology Firm of the Year. Richard trained as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.