Accounting for self-employed

Since 01/01/2017, All self-employed people with a yearly turnover of more than EUR 100,000 should have an accrual accounting system. Below EUR 100,000 of yearly turnover and if you offer intellectual services, like consulting, you can have a cash basis accounting...

Fine for late filing of accounts

In Luxembourg you have 7 month after the end of the financial year to publish company’s accounts. After that the RCSL (Luxemburgish business register) will fine you for late filing. The fine is equal to: EUR 50 excl. VAT if you are late of 1 month EUR 200 excl....