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Tax Compliance

Financial Advisory

Learn more about how we can help you achieve your business goals

We are dedicated to providing professional, reliable, and customized solutions to help businesses and individuals achieve their financial goals.

At our company, we understand that every client is unique, and that is why we offer tailored solutions to meet the specific needs and requirements of each client. Our team of experienced accountants and tax specialists uses the latest technology and tools to ensure accuracy, efficiency, and security in all of our services.

From bookkeeping to tax planning and audit services, we’ve got you covered.

ACAR Accounting Services

At our firm, we are committed to delivering high-quality, accurate financial information in a timely manner, so you can make informed financial decisions.

Our goal is to provide personalized, one-on-one service to ensure you feel supported and valued throughout the entire process.

With our expert knowledge, dedication to accuracy, and commitment to providing exceptional service, we are confident that we can help your company reach new heights.

Contact us today to learn more about how we can help you achieve your goals and grow your business.

Our Services

Our comprehensive accounting, tax, and advisory services are just what you need.


  • Bookkeeping
  • Financial Reporting
  • Tax Preparation
  • Budgeting and Forecasting

Tax Compliance

  • Tax Return Preparation
  • Corporate Tax Return Preparation
  • VAT Declarations
  • Tax Representation

Financial Advisory

  • Audit
  • Control Services
  • Financial Analysis
  • Customized, Actionable Recommendations

Get help for your financial decisions

We are committed to delivering high-quality, accurate financial information in a timely manner

Experience & Expertise

Our team is made up of highly experienced professionals who are experts in the field of accounting, tax, and advisory services. We have the knowledge and skills necessary to handle any financial challenge you may face.


Personalized Service

We take the time to understand your unique needs and tailor our services to meet them. Whether you're a small business owner or an individual looking for tax help, we provide personalized service to ensure that you get the support you need.


Proactive Approach

We take a proactive approach to financial management, helping you plan for the future and avoid any potential financial pitfalls. With our help, you can stay on top of your finances and make informed decisions to achieve your goals.

Frequently asked questions

Find quick answers to common questions using our helpful FAQs.

What are the deadlines for filing tax returns?

On 15 December 2022, the Luxembourg Parliament voted to approve the 2023 Budget. The 2023 Budget Law provides for an extension of the filing deadlines for certain direct tax returns. Corporate income tax and municipal business tax returns of a given year should now be filed by 31 December of the following year. For NWT, the return of a given year should be filed at the latest on 31 December of that year, since the return is based on the balance sheet as at 1 January of the tax year.

In practice, the Luxembourg Tax Authorities typically extended the filing deadline to 31 December without imposing late filing penalties. The Budget Law 2023 simply puts practice onto a statutory footing that will clearly provide more legal certainty to taxpayers.

The new filing deadlines are to be applicable to corporate income tax and municipal business tax returns related to 2022 and to net wealth tax returns for 2023.

What is the penalty for late tax returns?

Failure to submit a tax return may be subject to a penalty of 10% of the tax due and a fine up to EUR 25,000.

Do I need to do tax advance payments?

Tax advances payments are computed by the tax administration based on the previous liability assessed in the prior tax year. Tax advances are paid quarterly.

Can I reduce my quarterly advances if events of the current year leading to a less profitable year ?

A written request needs to be submitted to the tax authority explaining the events leading to a decrease of the turnover of the Company as well as supporting documents, such as an interim financial situation showing a slowdown in activity or margin decreases etc.

How do I obtain a tax ID number?

As soon as the Company is incorporated by the notary and published in the LBR (“Luxembourg Business Register”) the respective tax authority from the Comune where the Company is registered issues the tax number which starts with the year of registration following by 7 digits (example: 2023 xxxx xxx)

How do I obtain a VAT number?

To obtain a VAT number, a Company has to register for VAT. In order to register for VAT, the taxable person must submit an initial declaration or a declaration of option corresponding to their situation to VAT office (AED). The Company has to submit the following:

1. For a company:

    • name of the company;
    • legal form;
    • address of the registered office;
    • date of the constitutional documents and, for Luxembourg companies, if available, the number of the official journal (Mémorial C) or of the electronic compendium of companies and associations (Recueil électronique des sociétés et associations– RESA) in which they were published, otherwise indicate “Publication à venir” (publication will follow);
    • names and addresses of named partners listed in the constitutional documents and/or business managers/directors of the company;
    • for individuals:
      • surnames and first names of the taxable person;
      • civil status;
      • type and place of activity;
      • complete private contact details;
  • a bank account or a postal checking account (CCP) number at a Luxembourg or foreign bank (IBAN + BIC);
  • date of the start of the activity, which determines the first period for which a VAT declaration will have to be submitted;
  • financial year;
  • forecast or otherwise of intra-Community acquisitions and deliveries of goods or services;
  • estimation of the anticipated annual turnover excl. tax. This estimate will be one of the elements used to determine the periodicity for filing declarations.
What are the fees for tax compliance?

For tax compliance we work with fixed fees:

  • Corporate income tax return – EUR 400 per year
  • Annual VAT return – EUR 400 per year
  • Monthly VAT return – EUR 125 per month
  • Quarterly VAT return – EUR 200 per quarter

However if you combine accounting services with tax compliance and VAT you can obtain a very good discounted deal from us. Don’t hesitate to contact us.

What are the fees for accounting services?

Generally the fees are built based on the number of transactions in your company. You can count one transaction as being 1 invoice, 1 payment, 1 salary accounting record or one accrual. Based on the estimated number of transactions we estimate a total number of hours to be spent (ie. for 200 transactions we take approximately 12 hours of work and our hourly rate is EUR 35 per hour without VAT). Than on top we consider compiling financial statements, for which we have a fixed fee of EUR 500 per year.

What are the benefits of outsourcing accounting services?

Outsourcing accounting services can provide several benefits, including reduced costs, increased accuracy, and improved financial reporting.

Accounting firms can help clients with financial reporting by preparing financial statements and providing guidance on how to interpret the financial information.

For accounts payable and accounts receivable, accounting firms can help manage invoices, payments, and collections.

For payroll services, accounting firms can help manage payroll processing, tax withholdings, and other related tasks.

What financial planning services do you offer?

Financial planning services in Luxembourg can include retirement planning, estate planning, investment management, and more.

Accounting firms can help clients create budgets by analyzing their financial statements and developing a plan for managing their income and expenses.

If the number of transactions vary from month to month and from year to year, how am I going to be invoiced?

Together we will establish a fixed number of transaction and a fixed fee will be charged. At the end of the year based on the actual amount of work, based on a time sheet will be provided to you and if the number of transactions increased significantly and this is also supported by our timesheets we can agree and an additional charge.

Also if the number of transactions decreased and the time spent by our team is lower that initially budgeted, we will decrease our fees and do a regularization at the end of the year. Our goal is to create a flexible product that meets your requirements and remunerate our actual time spent with your Company.

Getting started

Schedule a consultation today!

Need more help?

Contact us today to learn more about how we can help you achieve your goals and grow your business.

We answer phone calls during working hours and respond to messages in less than 24 hours.

Learn more about how we can help you achieve your business goals.

ACAR Accounting Services is committed to delivering high-quality, accurate financial information in a timely manner, so you can make informed financial decisions.

Our goal is to provide personalized, one-on-one service to ensure you feel supported and valued throughout the entire process.

Request a call back to learn more about how we can help you achieve your goals and grow your business.

Request a call back