Subsidy for vocational training
Get your fair share!
Continuous vocational training legislation enables companies legally based in Luxembourg and with their main business activity there to benefit from support in funding their training plans.
The national institute for the development of continuous vocational training (INFPC), a public body under the supervision of the Ministry of National Education and Vocational Training, is in charge of dealing with applications for co-funding made by companies wishing to obtain a government subsidy.
The government contributes to the cost of investing in training in one of the following 2 ways, as preferred by the company, either through.
20% of the taxable cost of the investment.
Or tax credits
14% of the cost of the investment made, offset against income tax for the current year, which can be carried forward if there is insufficient annual income tax.
The financial contribution to payroll costs amounts to 35% if training is intended for participants meeting specific criteria (employees holding no diploma certified by public authority and whose employment time in the company is less than 10 years, or employees older than 45 years).
The categories of projects are predefined:
- IT/Office automation
- Management/Human Resources Management
- Quality/ISO certification/Security
- Adaptation in the workplace (in the case of a newly hired employee, an internal transfer, or a skills update)
In our capacity as auditors (réviseur d’entreprises) we can certify your final or annual report. The review is performed in accordance with the international standard on related services applied on the basis of agreed-upon procedures (ISRS 4400) and the professional standard issued by the Institute of auditors (IRE – Institut des Réviseurs d’Entreprises).
- The applications we review are processed as a matter of priority by the Ministry. Furthermore, our review of the final report or annual report results in faster payment of subsidies (thus giving you a 4 to 16-month improvement in cash flow).
- There will be no exhaustive review carried out by the Ministry on files reviewed by Deloitte.
- You will not be required to provide related supporting documents with your file.
- The added value provided by our review will allow you to apply for co-funding to cover as many of the eligible costs as possible and therefore maximize the amount of subsidies granted.
- The amount of the auditor’s invoice for certifying the final report or annual report is eligible for reimbursement.
Alternatively, Deloitte can help you in preparing your final report or annual report. Our training experts can help assess the organisation of the function and training management process (implementation of a service model tailored to suit your organisation, support in developing a syllabus and designing training programmes as well as in developing content) or provide advice in the definition of your Human Resources Information System (HRIS) or the implementation of specialist solutions.