Family Wealth Management Company - SPF

• The obligation to declare and pay the subscription tax applies throughout the entire existence of the entity, from the date of incorporation until the completion of liquidation procedures. The date of incorporation and the date of dissolution of the entity, as published on the Luxembourg Business Register (LBR), are determinative.

• If a newly established entity has no activity and holds no assets, a tax return with a taxable base of zero euros must be filed. If the entity has received subscriptions, which constitute assets, the total net assets (NAV) valued on the last day of each quarter must be declared.

The subscription tax must be declared and paid within the first twenty days following the end of each quarter:

• For the first quarter, the deadline is April 20^th  N;
• For the second quarter, the deadline is July 20^th  N;
• For the third quarter, the deadline is October 20^th  N;
• For the fourth quarter, the deadline is January 20^th  N+1.

The subscription tax must be declared and paid within the first twenty days following the end of each quarter:

• For the first quarter, the deadline is April 20^th  N;
• For the second quarter, the deadline is July 20^th  N;
• For the third quarter, the deadline is October 20^th  N;
• For the fourth quarter, the deadline is January 20^th  N+1.

oA submitted declaration may be rectified at any time within two years from the filing date.

• The annual certification serves to confirm the eligibility of SPF investors, as well as to confirm that the SPF has complied with its paying agent obligations or, alternatively, that it has appointed a credit institution to fulfill or arrange for the fulfillment of these obligations on its behalf.

• The annual certification is intended to confirm the eligibility of investors in the SPF and to verify that the SPF has complied with its obligations as a paying agent, or alternatively, that it has authorized a credit institution to fulfill or ensure the fulfillment of these obligations on its behalf.

• The domiciliary or in absence of,
• The chartered accountant or
• The statutory auditor

The certification must be submitted annually via electronic transfer, no later than July 31st, to the AED, and may be filed using the following link.

oAED does not issue tax residence certificates for SPFs.

The obligations to declare and pay subscription tax exist for the entire duration of the existence of the entity subject to subscription tax, from the date of incorporation to the date of dissolution. The date of incorporation and the date of dissolution of the entity, as published on the Luxembourg Business Register (LBR), are determinative. 

Article 2 of the Grand Ducal decree of February 20, 1914 provides that :

"The transmission and subscription taxes established by Articles 34 and 37 of the Law of December 23, 1913 shall be paid in accordance with Article 35  of the same law, by companies , corporations, and enterprises at the registration office of the head office, respectively of the seat of their principal establishment in the country, after the expiration of each quarter, and within the first twenty days of the following quarter, under penalty of a fine equal to one tenth of the taxes due.

"The transmission and subscription taxes established by Articles 34 and 37 of the Law of December 23, 1913 shall be paid in accordance with Article 35  of the same law, by companies , corporations, and enterprises at the registration office of the head office, respectively of the seat of their principal establishment in the country, after the expiration of each quarter, and within the first twenty days of the following quarter, under penalty of a fine equal to one tenth of the taxes due.