Taxe d'abonnement

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The Taxe d'abonnement is a tax that is levied quarterly on funds under Luxembourg law (e.g. FCP , SICAV , SICAF , SIF ). It relates to the net fund volume at the end of the quarter. It is part of the total expense ratio . The registration and transfer of the tax take place by the 20th of the following month. Depending on the fund, the tax rate is between 1 and 5 basis points ( interest calculation method : 30/360 days).