ARTICLE · 10 MARCH 2017

CSSF Circular 17/650 - Implementing AML/TF Professional Due Diligences Relating To Primary Tax Offences

Deloitte Luxembourg

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The CSSF circular 17/650 applies to all persons and undertakings falling under the supervision of the CSSF.

LuxembourgTax

Pierre-Jean Estagerie

Michael JJ Martin

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Background

The Law of 23 December 2016 implementing the 2017 tax reform (the Law) is, among others, extending the money laundering offence to tax crimes related to direct and indirect taxes.

The Commission de Surveillance du Secteur Financier (CSSF) issued a circular drawn up with the Financial Intelligence Unit (FIU) clarifying AML/TF professional due diligences in relation to primary tax offences.

The CSSF circular 17/650 applies to all persons and undertakings falling under the supervision of the CSSF.

Thresholds defined for fiscal fraud types

The Law distinguishes three types of fiscal fraud:

	Definition	Sanctioned by
Simple offence	When the fraud is not an aggravated fiscal fraud nor a tax swindle

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