Use of a derogatory framework for the publication of consolidated accounts prepared for statutory purposes
Pursuant to Article 27 of the amended Law of 19 December 2002 on the Trade and Companies Register, as well as on the bookkeeping and annual accounts of undertakings (the amended Law of 2002), an undertaking may submit an individual request for exemption in order to be authorised to derogate from certain provisions of the law on bookkeeping and annual accounts of undertakings (Title II of the amended law of 2002) and on the consolidated accounts of certain types of companies (Title XVII (formerly Section XVI) of the amended law of 10 August 1915 on commercial companies).
In practice, this derogation mechanism is mainly intended to allow undertakings to use a derogatory framework - officially recognised by the European Commission - for the publication of consolidated accounts prepared for statutory purposes instead of the accounting principles generally accepted in Luxembourg (the "LUX GAAP" regime, the "LUX GAAP-FV" regime and the "IFRS-EU" regime). For information on the procedure for applying for a derogation, please refer to the page on accounting derogations published on the website of the Ministry of Justice.
Self-assessment form
Among the elements subject to particular attention when examining a new application or a renewal application is a summary check of the undertaking's compliance with its accounting obligations. To this end, undertakings submitting a new application or a renewal application for exemption are requested to enclose with their application the duly completed and signed self-assessment form, which can be accessed below:
- New application: self-assessment form (English version / French version)
- Renewal application: self-assessment form (English version / French version)
In order to complete the self-assessment form, explanatory notes are also available in English and French.