On 30 September 2016, the Luxembourg Indirect Tax Authorities issued Circular n° 781 on the activities of directors of Luxembourg companies. The Circular does not however specifically provide any guideline on the application of the exemption of article 44.1.d) of the VAT law to the remuneration of directors and managers of investment funds and their management companies.
During this seminar, VAT experts from ILA and ALFI will address the situation of investment funds and their management companies.
In particular, they will deal with the particular case of directors of management companies receiving a remuneration that should be exempt for the portion that relates to the management of the funds of the management company while the portion that relates to the management of the management company as such would be subject to VAT.
Indicative lists of items which are typically on the agenda of the board of the management company managing both FCPs and/ or SICAVs that have designated a management company, will be discussed in the context of a possible VAT exemption.
Participation of free of charge to ILA/ALFI members only!
The format of the event is as follows :
- 8.00 to 8.30 am: Registration
- 8.30 to 8.40 am: Welcome & Introduction by Raymond Schadeck, Chairman ILA
- 8.40 to 9.30 am : VAT on Remuneration of Directors of UCI and their Management Companies
- Management of Investment Funds and VAT Treatment
- Roles and Responsibilities of a Fund Director
- Examples of Items on Agenda of the Board of a Management Company and Possible Allocation between exempt and VAT-able services
|Speakers - Moderators - Panelists|