Difference between revisions of "Glossary"
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:The '''Administration des Contributions Directes''' The Luxembourg Tax authority.<br> | :The '''Administration des Contributions Directes''' The Luxembourg Tax authority.<br> | ||
:This is the recipient of [[# | :This is the recipient of [[#CRS|CRS]] and [[#FATCA|FATCA]] reporting | ||
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Revision as of 14:06, 31 March 2026
Page's last update : 31 Apr 2026
A
ACD
B
FATCA
- The Central Bank of Luxembourg (BCL) is Luxembourg’s monetary authority and a member of the Eurosystem and the European System of Central Banks.
C
CSSF
- The Commission de Surveillance du Secteur Financier is a public institution which supervises the professionals and products of the Luxembourg financial sector.
CRS
- The Common Reporting Standard (CRS) is a global regulation developed by the OECD for the automatic exchange of financial account information between countries to combat tax evasion. It requires financial institutions to identify foreign tax residents and report their financial account details to local tax authorities, who then share this data internationally.
F
FATCA
- FATCA (Foreign Account Tax Compliance Act) is a US law requiring foreign financial institutions, including those in Luxembourg, to report information about financial accounts held by U.S. persons to local tax authorities (ACD - Administration des contributions directes). The ACD then automatically exchanges this data with the US IRS to prevent tax evasion.