This web tool is the result of our personal consulting experience with our clients since the financial statements e-filing became compulsory for the first time in Luxembourg at the beginning of 2012. Additionally it is a tool that will save you time when preparing financial statements or booking transactions.

European Legal Framework:

Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC.

Luxembourg Legal Framework:

amended Law of 10th August 1915 - Law on commercial companies;

"Règlement" of 29th June 1984 - SOPARFI presentation of annual accounts

amended Law of 19th December 2002 - Register of Commerce and companies;

"Règlement" of 10th June 2009 - Standard Chart of Accounts;

Law of 10th December 2010 - Introduction of IFRS;

Law of 30th of July 2013 - Amending and clarifying a few key accounting concepts of previous laws.

All Luxembourg businesses which are required to produce annual accounts must publish their accounts in accordance with the standard chart of accounts. The following businesses are NOT subject to the standard chart of accounts:

traders who are natural persons and partnerships (SENC, SECS) with turnover of less than EUR 100,000 excluding VAT (upon approval of the Minister of Justice);

credit institutions;

insurance and reinsurance companies;

SEPCAVs (société d'épargne-pension à capital variable - pension fund company with variable capital);

SICAVs and financial holding companies whose activities are limited to investing in transferable securities or acquiring holdings;

temporary business associations and participating business associations;

companies which, following the approval of the Minister of Justice, can prepare their accounts according to International Financial Reporting Standards (IFRS) or other standards.

If 2 out of the 3 following criteria are not exceeded during 2 consecutive financial years :

	Small Companies	Medium Sized Companies	Large Companies
Total Assets (M EUR)	< 4,4	> 4,4 and < 17,5	> 17,5
Total Turnover (M EUR)	< 8,8	> 8,8 and < 35	> 35
Total Average Employees	< 50 people	> 50 people and < 250 people	> 250 people

Once determinded the size of the company you can determine the type of LUX GAAP set of fiancial statements:

	Small Companies	Medium Sized Companies	Large Companies
Balance Sheet	abridged version	full version	full version
Profit and Loss Statement	abridged version	abridged version	full version
Notes to the annual accounts	abridged version	full version	full version

Listed companies (issue of shares and/or debtentures) need to apply the full version of the LUX GAAP set of financial statements..

Mandatory use of Holding Forms dedicated to "Sociétéé de Participation Financière = SOPARFI - art. 31 amended Law 19th December 2002".