December has rolled around... thankfully this means sweets and treats and some time off, but it also means that there are a couple of VAT items to make sure you're prepared for—because the year-end is just around the corner too.

Tune in every week until Christmas as we keep you updated on important tax information to know before 2017. And follow us on Twitter at @KPMGLuxembourg for daily tax updates! (Hashtags: #KPMGTax and #AdventCalendar).

First up is VAT. Here are three things you should know:

Last call for 2015 VAT returns

The legal deadline for your annual 2015 VAT return was 1 May 2016, but the Luxembourg VAT authorities grant an administrative tolerance of eight months, meaning that you have until 2 January 2017. If you thought you'd missed your chance, then you haven't... yet!

Change is in the air

This year marks the last time that you had the choice between eTVA and eCDF for your VAT returns—as of 1 January 2017, you must use the eCDF platform (even if you're filing your 2015 returns). You must also use this platform to file your EC Sales Lists from this date onwards. This electronic platform has been set up by the Centre des technologies de l'information de l'Etat (CTIE). You will be able to still use your eTVA Luxtrust certificate to access the eCDF platform.

If you're unsure about transitioning from eTVA to eCDF then give us a shout.

New obligations for directors in Luxembourg

Attention independent and Luxembourg-established directors: as of 1 January 2017, you'll be considered taxable persons for VAT purposes. You will therefore have to register for VAT purposes, file VAT returns (how often will depend on your turnover), and issue proper invoices, applying a 17% VAT rate on the services you render to the entities you manage.

A few stipulations to remember: if you fulfill certain conditions given in Luxembourg's VAT law then you might benefit from the franchise regime; if you do not act independently (i.e. if you act on behalf of your employer), you will not be considered a taxable person for VAT purposes. Especially in the investment fund management industry, these rules can complicate the answers to questions like whether you are subject to VAT tax, and if so then to what extent.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.