ATOZ VAT training - Key VAT matters for board members of companies in the PE and investment fund sectors

ATOZ VAT training

On Thursday, 19 September and Thursday, 26 September 2024, Tax Partner, Thibaut Boulangé, and Tax Principal, Silvin Leibengut, will be sharing insightful information across two sessions, relating amongst others, to VAT rules, management and exemptions, and the liability of directors/boards members for VAT matters. 

Directors are taking on increasing responsibility by accepting their mandates. Those responsibilities include notably the payment of VAT and the risk of potential liability. The task of navigating though all the subtleties can be quite challenging and discouraging.

Our objective is to provide you with a map that will help you navigate the complexity of VAT. After the sessions, you will have the ability to ask the right questions and anticipate the potential risks arising from such VAT practice.

Thibaut Boulangé, Partner and Head of Indirect Tax, and Silvin Leibengut, Principal, will ensure that you are not left in the dark by going through basic principles before going into much more details.

Session 1 - 19 September

  • Reminder on the main VAT rules:
    • VAT status of SPVs, holdings, funds and GPs/ManCos
    • Localisation of services received from non-Luxembourg suppliers VAT obligations: what and when?
  • VAT management: 
    • Deducting the right amount of VAT 
    • Get a VAT reimbursement
    • Anticipating VAT costs
  • Scope of the main VAT exemptions applicable in the private equity and investment fund sectors:
    • Management and investment advisory services
    • Placement services
    • Negotiation services and the likes
    • Points of attention in case of VAT exempt from non-Luxembourg suppliers

Session 2 - 26 September

  • VAT tricking points:
    • Management fee vs carried interest
    • Substance for funds and GPs
    • Recharge of costs vs service fee
    • Financing: short term loan, interest free loan, single loan
  • Liability of directors/board members for VAT matters:
    • Directors' fees: what's now for the VAT treatment of such fees and what are the next steps?
    • Responsibility if the company does not comply with its VAT obligations
    • Penalties and fines
  • VAT litigation:
    • How a VAT control by the VAT Authorities works in practice?
    • What are the next steps if the matter is brought before the judicial courts

 

If you'd like to know more, email the team now on events@atoz.lu. 

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ATOZ Speaker
Thibaut Boulangé
Silvin Leibengut