What does the localization for Luxembourg include?
The localization modules provided are options “à la carte” depending on the needs of the customer. To have optimized functionalities, the base package with its parameters should be used. This enables for example the electronic declaration of VAT to eCDF without additional customizing so far the company has a standard sales or service business.
The base package is a mix of data and apps:
- Standard Chart of account (COA) in English or French or German), as provided by eCDF
- Standard business- and product posting groups, general posting setup
- Standard VAT business- and product posting groups, general VAT posting setup
- Standard customer or vendor posting groups
- Required object modifications as Al-App for VAT
- The apps for the printing of following monthly reports:
– VAT Statements
– EU Sales List
The parametrisation of VAT is a standard parametrization for “standard” trade or “standard” service providers. That means that special VAT cases as for example for holdings, web shops, private companies, tobacco, etc. are not part of the provided parametrisation and hence subject to additional parametrisation services if applicable.
Audit file FAIA for Luxembourg is an app enabling the export of data required by the Luxemburgish tax authorities with additional specific fields and format.
Every company based in Luxembourg must provide a standard audit file for taxes SAF-T, called FAIA, on request of Tax authorities. This specific Luxemburgish standard file is designed to export accounting and static data upon request by VAT authorities in the context of VAT audits.
This audit file needs to be an XML file which could principally be forwarded in three different structures. Nevertheless, the most complete structure (= FAIA Full-Scheme) is mandatory for all businesses using an integrated software solution.
Therefore, this standard audit file for tax must not only contain ledger entries but also any other tax relevant information as:
- Customer and Vendor data
- Purchase invoice data including item data
- Sales invoice data including item data
- Data-extended fields to ensure that the VAT- and dimension data are compliant with FAIA requirements
- Mapping to the standard Luxemburgish chart of accounts in case another one is used for local accounting
- Generation of the file for the required calendar year even if the fiscal year is not a calendar year
- Compliance with taxation laws, hence minimization of business risks
- Export of FAIA-file for required calendar year
- Application based on the global W1 database
- Improved Time-to-Value as self-employment is rather complex due to the interaction of multiple departments and data sources
Export of monthly XML-File for VAT Declaration per eCDF
eCDF VAT Statement for Luxembourg is an app enabling the creation of a XML File to use for reporting monthly or quarterly VAT to the Luxemburgish fiscal authorities. Every company based in Luxembourg and subject to a monthly or quarterly VAT statement must submit this VAT statement in an electronic form exclusively through the eCDF System. As required, this functionality is certified by the Luxemburgish fiscal authorities eCDF.
Export of monthly XML-EU sales list for declaration per eCDF
eCDF EC Sales list for Luxembourg is an app enabling the creation of a XML File to use for reporting Sales B2B in the EU to the Luxemburgish fiscal authorities.
Every company based in Luxembourg with sales of goods or services outside Luxembourg in an EU-Country must submit this statement (called Etat récapitulatif) in an electronic form exclusively through the eCDF System. As required, this functionality is certified by the Luxemburgish fiscal authorities.
eCDF Export Functionality of Chart of Accounts, Balance Sheet and Profit and Loss
eCDF Annual accounts localization for Luxembourg is an app enabling the creation of XML Files to upload the following annual accounts to the Luxemburgish fiscal authorities’ portal eCDF:
- Balance sheet
- Profit and Loss
- Chart of accounts
Every company based in Luxembourg must submit these data in an electronic form exclusively through the eCDF System. As required, this functionality is certified by the Luxemburgish fiscal authorities.
- Use of the standard account schedule features extended by additional fields to specify the eCDF-IDs as defined by the legal annual accounts forms
- Form validation according to the rules provided by the fiscal authorities
- Generation of the file for the required yearly reporting
- Print of PDF with the values of the XML-File
- Save time by automatic export of the required data instead of manual submission to the eCDF System
- Flexible structure: if you have extended the standard chart of accounts by own accounts, these can also be parametrized
Mehrwertsteuer-Kontrollliste pro Sachkonto
This list shows which type of sales tax has been posted to which account. Tax advisors are often asked to check VAT returns.
Export of Intrastat Data to be uploaded in STATEC
Every company in Luxembourg that trades in goods within Europe is obliged to provide qualified statistical data and to report it to the STATEC portal. The data for Intrastat can be exported in an XML file which can be uploaded in the Statec declaration portal.