Most recent news

Revised OECD Discussion Draft on permanent establishments – PwC Newsflash published

As mentioned in the news alert published on 18 May 2015, the OECD issued a revised discussion draft on preventing the artificial avoidance of permanent establishment (‘PE’) status under Action 7 … more

Pascal Janssens

As mentioned in the news alert published on 18 May 2015, the OECD issued a revised discussion draft on preventing the artificial avoidance of permanent establishment (‘PE’) status under Action 7 … more

Foreign bank accounts must be reported to Belgian National Bank

As from now all tax residents of Belgium must report their foreign bank accounts to the Central Contact Point (CCP) with the National Bank of Belgium. If you (or your dependent children) had a foreign bank ac … more

Nicolas de Limbourg

As from now all tax residents of Belgium must report their foreign bank accounts to the Central Contact Point (CCP) with the National Bank of Belgium. If you (or your dependent children) had a foreign bank ac … more

Revised OECD Discussion Draft on permanent establishments published

On 15 May 2015, the OECD issued a revised discussion draft on preventing the artificial avoidance of permanent establishment (‘PE’) status under Action 7 of the BEPS action plan. The proposals i … more

Pascal Janssens

On 15 May 2015, the OECD issued a revised discussion draft on preventing the artificial avoidance of permanent establishment (‘PE’) status under Action 7 of the BEPS action plan. The proposals i … more

Proposal to increase the maximum amount for non-recurring collective bonuses

On 6 March 2015, the Federal Council of Ministers approved a draft Royal Decree to increase the maximum (gross) amount of non-recurring collective bonuses from EUR 3,100.00 to EUR 3,169.00 as from 1 January … more

Nicolas de Limbourg

On 6 March 2015, the Federal Council of Ministers approved a draft Royal Decree to increase the maximum (gross) amount of non-recurring collective bonuses from EUR 3,100.00 to EUR 3,169.00 as from 1 January … more

Net Asset Tax – annulment of retroactive tax increase for credit institutions

The Net Asset Tax (‘NAT’) rate for assessment year 2013 for credit institutions has been increased from 0.0800% to 0.0965% by the Act of 17 June 2013 and from 0.0965% to 0.1200% by the A … more

olivier-hermand-author

The Net Asset Tax (‘NAT’) rate for assessment year 2013 for credit institutions has been increased from 0.0800% to 0.0965% by the Act of 17 June 2013 and from 0.0965% to 0.1200% by the A … more

A Digital Single Market for Europe – Commission sets out its strategy – Modernizing VAT for cross-border e-commerce

On 6th May 2015, the European Commission announced its Digital Single Market Strategy for Europe. The aim is to remove the barriers which currently hinder EU based companies to grow and to be (more … more

Christoph Zenner

On 6th May 2015, the European Commission announced its Digital Single Market Strategy for Europe. The aim is to remove the barriers which currently hinder EU based companies to grow and to be (more … more

FATCA – Belgian draft Guidance Notes published

The Federal Public Department of Finance has released the Belgian FATCA Guidance Notes in draft format. For more information about the draft, you can read the 138-page text here: <a href="http://finances.b … more

olivier-hermand-author

The Federal Public Department of Finance has released the Belgian FATCA Guidance Notes in draft format. For more information about the draft, you can read the 138-page text here: <a href="http://finances.b … more

Cayman Tax: tax transparency for ‘legal constructions’

Currently, a bill of law is discussed at the level of the Belgian federal government concerning the so-called Cayman Tax. In prin … more

Philippe Vanclooster

Currently, a bill of law is discussed at the level of the Belgian federal government concerning the so-called Cayman Tax. In prin … more

OECD publishes Discussion Draft on cost contribution arrangements

On 29 April 2015, the OECD issued a Discussion Draft on the transfer pricing aspects of cost contribution arrangements (‘CCAs’) under Action 8 of the BEPS action plan. The Draft … more

Patrick Boone

On 29 April 2015, the OECD issued a Discussion Draft on the transfer pricing aspects of cost contribution arrangements (‘CCAs’) under Action 8 of the BEPS action plan. The Draft … more

Revised OECD BEPS timetable

The OECD has published a revised OECD timetable for stakeholders’ input, with the dates when new discussion drafts will be published and public consultations will be held in relation to the 2015 Bas … more

Pascal Janssens

The OECD has published a revised OECD timetable for stakeholders’ input, with the dates when new discussion drafts will be published and public consultations will be held in relation to the 2015 Bas … more

Investment deduction percentages for assessment year 2016 published

On 27 April 2015, the new percentages for investment deduction, applicable to assessment year 2016, were published in the Belgian Official Gazette. The percentages for assessment year 2016 have not … more

Philippe Vanclooster

On 27 April 2015, the new percentages for investment deduction, applicable to assessment year 2016, were published in the Belgian Official Gazette. The percentages for assessment year 2016 have not … more

Belgian tax authorities announce tax audits

The Belgian tax authorities prefer to communicate in an open way on how they make the selection of taxpayers that can be subject to a tax audit. Just like in previous years, the Belgian tax authorities have … more

Philippe Vanclooster

The Belgian tax authorities prefer to communicate in an open way on how they make the selection of taxpayers that can be subject to a tax audit. Just like in previous years, the Belgian tax authorities have … more

When to account for tax law changes (IFRS and US GAAP)

Keeping track of tax law changes around the world has increasingly become a challenge for businesses. Companies are rapidly expanding their geographic footprint at a time when the evolution and dev … more

koen-de-grave-author

Keeping track of tax law changes around the world has increasingly become a challenge for businesses. Companies are rapidly expanding their geographic footprint at a time when the evolution and dev … more

VAT: tax point rules (advance invoices) – transitional VAT regime once more extended and upcoming change in legal framework

As from 1 January 2013, the issuance of an invoice not always triggers the payment of the VAT. Due to the practical implications of this new rule, the Belgian authorities had provided for transiti … more

Christoph Zenner

As from 1 January 2013, the issuance of an invoice not always triggers the payment of the VAT. Due to the practical implications of this new rule, the Belgian authorities had provided for transiti … more

New administrative VAT decision: discretionary portfolio management versus advisory management

The Belgian VAT administration recently published a new administrative decision clarifying the VAT treatment of portfolio discretionary management and advisory management based on the ECJ case Deutsche Bank. Discretionary portfolio management <p … more

Christoph Zenner

The Belgian VAT administration recently published a new administrative decision clarifying the VAT treatment of portfolio discretionary management and advisory management based on the ECJ case Deutsche Bank. Discretionary portfolio management <p … more

VAT: Belgian VAT authorities to comment Belgian impact of CJEU court case Skandia (C-7/13)

The Belgian VAT authorities recently published a new administrative decision on the impact of the CJEU court case Skandia America Corp (C-7/13, 17 September 2014) with regard to Belgian VAT legislation. Follo … more

Christoph Zenner

The Belgian VAT authorities recently published a new administrative decision on the impact of the CJEU court case Skandia America Corp (C-7/13, 17 September 2014) with regard to Belgian VAT legislation. Follo … more

Belgian Court of Cassation: no late payment interest without a VAT debit in the hands of the VAT taxable person

In its decision of 31 October 2014 (Jetaircenter NV vs. the Belgian State), the Court of Cassation ruled that late payment interest cannot be claimed by the Belgian State when the taxable person un … more

Wouter-Villette-2

In its decision of 31 October 2014 (Jetaircenter NV vs. the Belgian State), the Court of Cassation ruled that late payment interest cannot be claimed by the Belgian State when the taxable person un … more

Global Tax Accounting Services Newsletter (January – March 2015)

This release is designed to help multinationals stay aware of tax accounting and regulatory developments under US GAAP and IFRS, whilst providing some technical guidance on challenging tax accounting areas. T … more

koen-de-grave-author

This release is designed to help multinationals stay aware of tax accounting and regulatory developments under US GAAP and IFRS, whilst providing some technical guidance on challenging tax accounting areas. T … more

Creation of certainty on VAT treatment of complex cross border transactions – Cross Border Rulings Project extended until 2018 by EU Commission

The VAT Cross Border Rulings Pilot Project has been set up for taxable persons to obtain advance rulings on the VAT treatment of complex cross border transactions. Cross border rulings (CBRs … more

Christoph Zenner

The VAT Cross Border Rulings Pilot Project has been set up for taxable persons to obtain advance rulings on the VAT treatment of complex cross border transactions. Cross border rulings (CBRs … more

Budgetary control in Belgium: New tax measures announced

On 30 March 2015, the Belgian government announced new Belgian tax measures in the framework of the budgetary control. They concern: Fight against fraud The fight against tax fraud will be pursued. The estima … more

Philippe Vanclooster

On 30 March 2015, the Belgian government announced new Belgian tax measures in the framework of the budgetary control. They concern: Fight against fraud The fight against tax fraud will be pursued. The estima … more

New daily lump sum allowances list as from 1 April 2015

An employer/company can pay daily lump-sum allowances for foreign business travel to employees or company directors in order to reimburse certain expenses. If the lump-sum reimbursements for short-term busin … more

Nicolas de Limbourg

An employer/company can pay daily lump-sum allowances for foreign business travel to employees or company directors in order to reimburse certain expenses. If the lump-sum reimbursements for short-term busin … more

EC presents proposal for mandatory automatic exchange of information on cross-border tax rulings within the EU

In a press release of 18 March 2015, the European Commission (“EC”) announced its Tax Transparency Package, including a proposal to broaden the scope of the EU Cou … more

Patrick Boone

In a press release of 18 March 2015, the European Commission (“EC”) announced its Tax Transparency Package, including a proposal to broaden the scope of the EU Cou … more

Belgium-Luxembourg cross-border workers

Belgium-Luxembourg cross-border workers: mutual agreement signed and information regarding evidence to support presence in Luxembourg published Following the announcement made early February, the Belgian and … more

Nicolas de Limbourg

Belgium-Luxembourg cross-border workers: mutual agreement signed and information regarding evidence to support presence in Luxembourg published Following the announcement made early February, the Belgian and … more

Promotional event – VAT deduction for catering costs accepted

The deduction of VAT on catering costs incurred during an event with (existing or potential) clients has been the subject of extensive case law and of many an issue with the Belgian VAT Administrat … more

Wouter-Villette-2

The deduction of VAT on catering costs incurred during an event with (existing or potential) clients has been the subject of extensive case law and of many an issue with the Belgian VAT Administrat … more

Belgium considers introducing mandatory transfer pricing documentation following the outcome of the BEPS Action Plan

The Belgian Minister of Finance, Johan Van Overtveldt, shared some new insights about the government’s ambitions in the area of transfer pricing as part of his reply to a parliamentary question on Wednesd … more

Patrick Boone

The Belgian Minister of Finance, Johan Van Overtveldt, shared some new insights about the government’s ambitions in the area of transfer pricing as part of his reply to a parliamentary question on Wednesd … more

New draft bill on the contribution of financial institutions to State revenue

As part of the Belgian government agreement, it was decided that banks and insurance companies should pay an additional tribute to the State revenue, thanks to an amendment to the notional interest … more

olivier-hermand-author

As part of the Belgian government agreement, it was decided that banks and insurance companies should pay an additional tribute to the State revenue, thanks to an amendment to the notional interest … more

Meal vouchers and non-recurring collective bonuses – Adjustment to maximum amounts

The Council of Ministers recently approved two draft Royal Decrees regarding meal vouchers and non-recurring collective bonuses. These Royal Decrees contain the following adjustments: The maximum amount of employer’ contribution for meal vouchers will be increased from 5.91 EUR to 6.91 EUR per voucher. Taking into account a minimum employee’s contribution of 1.09 EUR, the […]

Nicolas de Limbourg

The Council of Ministers recently approved two draft Royal Decrees regarding meal vouchers and non-recurring collective bonuses. These Royal Decrees contain the following adjustments: The maximum amount of employer’ contribution for meal vouchers will be increased from 5.91 EUR to 6.91 EUR per voucher. Taking into account a minimum employee’s contribution of 1.09 EUR, the […]

Advance tax payments – Percentages for tax year 2016

On 27 February 2015, the Belgian government took a decision on the rates for the advance tax payments for tax year 2016. Considering the low market rates, it was decided that the basic rate to be t … more

Philippe Vanclooster

On 27 February 2015, the Belgian government took a decision on the rates for the advance tax payments for tax year 2016. Considering the low market rates, it was decided that the basic rate to be t … more

ECJ: The Court rules against reduced VAT rates for electronic books

On 5 March 2015, the Court of Justice of the European Union (ECJ) gave its decision in the infraction cases against France and Luxembourg on their application of reduced VAT rates on electronic books (C-479/ … more

Christoph Zenner

On 5 March 2015, the Court of Justice of the European Union (ECJ) gave its decision in the infraction cases against France and Luxembourg on their application of reduced VAT rates on electronic books (C-479/ … more

Joint Committee no. 218 will become no. 200

On 1 April 2015, Joint Committee no. 218 will be converted into Joint Committee no. 200. All collective bargaining agreements in force within Joint Committee no. 218 will be transferred to the new j … more

Bart Elias

On 1 April 2015, Joint Committee no. 218 will be converted into Joint Committee no. 200. All collective bargaining agreements in force within Joint Committee no. 218 will be transferred to the new j … more

NETHERLANDS – Preliminary ruling on the 150 km criterion of the 30% regime

On 24 February 2015, the European Court of Justice (‘ECJ’) issued a preliminary ruling on the question whether the 150 km criterion of the 30% regime for incoming workers is to be upheld. <p dir="LTR … more

Nicolas de Limbourg

On 24 February 2015, the European Court of Justice (‘ECJ’) issued a preliminary ruling on the question whether the 150 km criterion of the 30% regime for incoming workers is to be upheld. <p dir="LTR … more

Administrative cost charged for certain Belgian residence applications from 2 March 2015

The intention of the Government to apply charges for residence applications in order to cover the administrative costs was already present in the Program Act of 19 December 2014. On 16 February 2015, the Go … more

Bart Elias

The intention of the Government to apply charges for residence applications in order to cover the administrative costs was already present in the Program Act of 19 December 2014. On 16 February 2015, the Go … more

Constitutional Court rules: different tax treatment of capital reduction is not discriminatory

On 19 February 2015, the Belgian Constitutional Court ruled that the tax treatment of income from a capital reduction in the hands of a Belgian company is not discriminatory, compared to the tax rules appli … more

Philippe Vanclooster

On 19 February 2015, the Belgian Constitutional Court ruled that the tax treatment of income from a capital reduction in the hands of a Belgian company is not discriminatory, compared to the tax rules appli … more

New rules regarding the issuance of certificates of residence for Undertakings for Collective Investment

With the new Circular, Circular L.G.-A. n°61 of 12 February 2015,  the Luxembourg Tax Authorities clarify and provide new rules as from February 2015 concerning the issuance of certificat … more

olivier-hermand-author

With the new Circular, Circular L.G.-A. n°61 of 12 February 2015,  the Luxembourg Tax Authorities clarify and provide new rules as from February 2015 concerning the issuance of certificat … more

Customer and Investor Tax Transparency – Updates on Tax Transparency and Exchange of Information

Updates highlighted in this issue IRS Releases Revised Publication on FATCA Data Exchange Service with Testing Sessions now available FATCA IDES Sample Test Packet Form 1042-S instructions have been released Bulgaria approves IGA (signed 5 December 2014) Jersey draft guidance Jersey’s statement on tax transparency Poland will participate in the implementation of FATCA Luxembourg draft […]

olivier-hermand-author

Updates highlighted in this issue IRS Releases Revised Publication on FATCA Data Exchange Service with Testing Sessions now available FATCA IDES Sample Test Packet Form 1042-S instructions have been released Bulgaria approves IGA (signed 5 December 2014) Jersey draft guidance Jersey’s statement on tax transparency Poland will participate in the implementation of FATCA Luxembourg draft […]

Additional wave of tax audits to be expected with respect to withholding tax exemptions

The amount of wage withholding taxes to be withheld by the employer is based on the withholding income tax scales published in a Royal Decree. The Belgian Income Tax Code provides for several exemptions (ov … more

Nicolas de Limbourg

The amount of wage withholding taxes to be withheld by the employer is based on the withholding income tax scales published in a Royal Decree. The Belgian Income Tax Code provides for several exemptions (ov … more

Belgian Fokus Bank claims – Court of Appeal of Antwerp has ruled against Belgian State

In a – recently published – judgment of 3 June 2014, the Court of Appeal of Antwerp ruled against the Belgian State and ordered it to refund the Belgian withholding tax suffered by a Dutch real e … more

Patrice Delacroix

In a – recently published – judgment of 3 June 2014, the Court of Appeal of Antwerp ruled against the Belgian State and ordered it to refund the Belgian withholding tax suffered by a Dutch real e … more

Facilitation for Belgium-Luxembourg cross-border workers

The Belgian and Luxembourg governments had a joint meeting yesterday in Brussels and came to the following agreement with respect to cross-border employment tax situations: Wit … more

Nicolas de Limbourg

The Belgian and Luxembourg governments had a joint meeting yesterday in Brussels and came to the following agreement with respect to cross-border employment tax situations: Wit … more

Constitutional Court annuls the tax on conversion of bearer securities

On 5 February 2015, the Belgian Constitutional Court rendered a judgement that annuls tax on the conversion of bearer securities, due to its incompatibility with EU law, in particular with Directive 2008/7/ … more

Patrice Delacroix

On 5 February 2015, the Belgian Constitutional Court rendered a judgement that annuls tax on the conversion of bearer securities, due to its incompatibility with EU law, in particular with Directive 2008/7/ … more

EU FTT – another statement of intent by EU Finance Ministers

Two weeks ago, in our Newsflash dated 22 January 2015, we discussed the latest developments in respect of the EU FTT since the turn of the year. Following the lack of consensus between the 11 participating Me … more

olivier-hermand-author

Two weeks ago, in our Newsflash dated 22 January 2015, we discussed the latest developments in respect of the EU FTT since the turn of the year. Following the lack of consensus between the 11 participating Me … more

The FASB proposes two Accounting Standard Updates on income taxes

As part of a simplification initiative, the Financial Accounting Standards Board (‘FASB’) issued an exposure draft of two proposed Accounting Standard Updates (‘ASUs’) relating to the accounting for … more

koen-de-grave-author

As part of a simplification initiative, the Financial Accounting Standards Board (‘FASB’) issued an exposure draft of two proposed Accounting Standard Updates (‘ASUs’) relating to the accounting for … more

Belgian tax authorities initiate new wave of transfer pricing audits

The Belgian tax authorities have initiated a new wave of transfer pricing audits, similar to those initiated in 2013 and 2014. Multiple taxpayers have already received or will receive in the next few days an … more

Patrick Boone

The Belgian tax authorities have initiated a new wave of transfer pricing audits, similar to those initiated in 2013 and 2014. Multiple taxpayers have already received or will receive in the next few days an … more

Legislative proposal for reforming the eco-voucher system introduced

Members of the largest Dutch-speaking Federal Government party (N-VA) have proposed to change the current eco voucher system in Belgium. The proposal suggests replacing the paper eco vouchers with a non-tax … more

Nicolas de Limbourg

Members of the largest Dutch-speaking Federal Government party (N-VA) have proposed to change the current eco voucher system in Belgium. The proposal suggests replacing the paper eco vouchers with a non-tax … more

Belgian R&D tax exemption for Young Innovative Companies no illegal state aid Commission says

On 23 January 2015, the European Commission finalised its investigation of the tax incentive for innovative companies which aimed at encouraging R&D activities of new small companies in Belgium under … more

Philippe Vanclooster

On 23 January 2015, the European Commission finalised its investigation of the tax incentive for innovative companies which aimed at encouraging R&D activities of new small companies in Belgium under … more

Fairness tax – Reference for a preliminary ruling to ECJ

The Belgian Constitutional Court (‘BCC’) has referred to the European Court of Justice (‘ECJ’) for a preliminary ruling in respect of the fairness tax. The fairness tax was introduced by the Act of 30 … more

Philippe Vanclooster

The Belgian Constitutional Court (‘BCC’) has referred to the European Court of Justice (‘ECJ’) for a preliminary ruling in respect of the fairness tax. The fairness tax was introduced by the Act of 30 … more

EU PSD – Council adopts anti-abuse clause

In a press release of 27 January 2015, the Council has disclosed its amendments to the EU Parent-Subsidiary Directive (PSD) (2011/96/EU). Objective of the amendments The Council amended the PSD, adding a b … more

Philippe Vanclooster

In a press release of 27 January 2015, the Council has disclosed its amendments to the EU Parent-Subsidiary Directive (PSD) (2011/96/EU). Objective of the amendments The Council amended the PSD, adding a b … more

Net Asset Tax – Constitutional Court annuls retroactive increase of rate

On 22 January 2015, the Belgian Constitutional Court rendered a judgement annulling the retroactive increase of the Net Asset Tax (“NAT”) rate introduced by the Act of 17 June 2013 with … more

olivier-hermand-author

On 22 January 2015, the Belgian Constitutional Court rendered a judgement annulling the retroactive increase of the Net Asset Tax (“NAT”) rate introduced by the Act of 17 June 2013 with … more

Real estate – VAT: ECJ rules on football stadium and fuels debate on VAT qualification of hybrid or more complex real estate structures

On 22 January 2015, the European Court of Justice ruled that – having regard to the facts cited in this (Belgian!) case – the act of making a football stadium available does not quali … more

Wouter-Villette-2

On 22 January 2015, the European Court of Justice ruled that – having regard to the facts cited in this (Belgian!) case – the act of making a football stadium available does not quali … more

IRS issues Final Regulations with respect to foreign financial assets (Form 8938)

The Final rules do not significantly alter previous guidance On December 12, 2014, the US Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released final regulations implementing S … more

olivier-hermand-author

The Final rules do not significantly alter previous guidance On December 12, 2014, the US Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released final regulations implementing S … more

EU FTT: back from the dead?

EU Financial Transaction Tax (“FTT”) finally implemented? During the last two months of 2014, a number of meetings were held both between the EU-11 and between the EU-11 and other EU Member States, with the aim of reaching consensus on the EU FTT. Despite the commi … more

olivier-hermand-author

EU Financial Transaction Tax (“FTT”) finally implemented? During the last two months of 2014, a number of meetings were held both between the EU-11 and between the EU-11 and other EU Member States, with the aim of reaching consensus on the EU FTT. Despite the commi … more

UK’s ‘Diverted Profits Tax’ proposes a 25% tax rate for taxpayers but leaves open questions

Background On 10 December 2014 HM Revenue & Customs (HMRC) released the diverted profits tax (DPT) provisions within its draft Finance Bill 2015. Upon initial review, the new rules could … more

axel-smits-author

Background On 10 December 2014 HM Revenue & Customs (HMRC) released the diverted profits tax (DPT) provisions within its draft Finance Bill 2015. Upon initial review, the new rules could … more

BEPS Project: Time to take a closer look at treasury and intercompany financing

OECD Base Erosion & Profit Shifting (BEPS) Project: Time to take a closer look at treasury and intercompany financing Just before the New Year’s break, the OECD issued new discussion drafts in the context of the so-called ‘Base Erosion & Profit Shifting’ project as mandated by the G20, better known as &#82 … more

david-ledure

OECD Base Erosion & Profit Shifting (BEPS) Project: Time to take a closer look at treasury and intercompany financing Just before the New Year’s break, the OECD issued new discussion drafts in the context of the so-called ‘Base Erosion & Profit Shifting’ project as mandated by the G20, better known as &#82 … more

Luxembourg adopts new transfer pricing rules and tax ruling processes

On December 19, the Luxembourg Parliament , 2014, enacted new tax measures for corporations and individuals, including amendments to Luxembourg’s transfer pricing legislation and documentation requirem … more

PVC

On December 19, the Luxembourg Parliament , 2014, enacted new tax measures for corporations and individuals, including amendments to Luxembourg’s transfer pricing legislation and documentation requirem … more

Money laundering: EU institutions agree on central registers

On 16 December 2014, the European Parliament (‘EP’) and the EU Council have reached political agreement on the revision of the EU AntiMoney Laundering Directive (‘AMLD’). According to the revised dra … more

Philippe Vanclooster

On 16 December 2014, the European Parliament (‘EP’) and the EU Council have reached political agreement on the revision of the EU AntiMoney Laundering Directive (‘AMLD’). According to the revised dra … more

Benefit in kind – Private use of a company car: Updated formula for 2015

The new reference CO2 emission for calculating the taxable benefit in kind for the private use of a company car in the hands of company directors and employees has been published in the Royal Decree dated 1 … more

Nicolas de Limbourg

The new reference CO2 emission for calculating the taxable benefit in kind for the private use of a company car in the hands of company directors and employees has been published in the Royal Decree dated 1 … more

Global Tax Accounting Services Newsletter (October-December 2014)

This release provides an update on a variety of accounting and reporting developments, including: an update on income tax accounting topics added to the Financial Accounting Standards Board’s agenda recent International Financial Reporting Standards Interpretation Committee’s (IFRS IC) guidance on some tax-related matters state aid developments enforcement priorities in relation to 2014 IFRS financial statements recently released […]

koen-de-grave-author

This release provides an update on a variety of accounting and reporting developments, including: an update on income tax accounting topics added to the Financial Accounting Standards Board’s agenda recent International Financial Reporting Standards Interpretation Committee’s (IFRS IC) guidance on some tax-related matters state aid developments enforcement priorities in relation to 2014 IFRS financial statements recently released […]

An extension until 30 June 2015 has been granted for reporting direct pension promise contracts to DB2P

As an employer/a company, you are liable to report your internal individual pension promises into the database DB2P, which is managed by Sigedis. This “declaration” must be made online … more

Christiaan Moeskops pwc_28

As an employer/a company, you are liable to report your internal individual pension promises into the database DB2P, which is managed by Sigedis. This “declaration” must be made online … more

Wage withholding tax scales as applicable for income year 2015

The Royal Decree of 10 December 2014 containing the wage withholding tax scales for income year 2015 was published in the Belgian Official Gazette of 16 December 2014. These updated withholding tax scales are … more

Nicolas de Limbourg

The Royal Decree of 10 December 2014 containing the wage withholding tax scales for income year 2015 was published in the Belgian Official Gazette of 16 December 2014. These updated withholding tax scales are … more

OECD webcast of 15 December 2014: Impact on intercompany financing

Today, the OECD broadcasted a webcast on the progress of its BEPS Action Plan. The expectations of this webcast were very high as the OECD had previously announced it would publish relevant Discussion Draf … more

david-ledure

Today, the OECD broadcasted a webcast on the progress of its BEPS Action Plan. The expectations of this webcast were very high as the OECD had previously announced it would publish relevant Discussion Draf … more

UK states that OECD agrees on substantial activity level required to benefit from preferential IP regimes

The Governments of Germany and the United Kingdom (UK) have, on 11 November 2014, shown their commitment to ensuring that the G20/OECD Base Erosion and Profit Shifting (BEPS) pr … more

Philippe Vanclooster

The Governments of Germany and the United Kingdom (UK) have, on 11 November 2014, shown their commitment to ensuring that the G20/OECD Base Erosion and Profit Shifting (BEPS) pr … more

The end of the (financial) year is near: everything under control?

For most companies, December is the last month of their financial year, which makes it the ideal time to reflect whether or not the company is in control of its tax and accounting obligations. Things that cro … more

Philippe Vanclooster

For most companies, December is the last month of their financial year, which makes it the ideal time to reflect whether or not the company is in control of its tax and accounting obligations. Things that cro … more

VAT: New VAT regime for incorporated company directors and liquidators postponed till 1 January 2016

Further to our previous alert on the new VAT regime for incorporated company directors and liquidators (click <a href="https://news.pwc.be/vat-incorporated-company-directors-liquidators-subject-nor … more

Wouter-Villette-2

Further to our previous alert on the new VAT regime for incorporated company directors and liquidators (click <a href="https://news.pwc.be/vat-incorporated-company-directors-liquidators-subject-nor … more

Proposed legislation for Italian Patent Box regime

In Italy the bill for the 2015 Stability Law will introduce a “Patent Box” regime for companies performing R&D activities, either directly or in cooperation with universities. Both Italian and forei … more

Philippe Vanclooster

In Italy the bill for the 2015 Stability Law will introduce a “Patent Box” regime for companies performing R&D activities, either directly or in cooperation with universities. Both Italian and forei … more

End of the Luxembourg withholding tax system in the frame of the EU Savings Directive

The Luxembourg parliament voted the draft Law n°6668 enacting the automatic exchange of information for interest payments within the EU as from 1 January 2015, in the frame of the EU Savings Directive (“t … more

olivier-hermand-author

The Luxembourg parliament voted the draft Law n°6668 enacting the automatic exchange of information for interest payments within the EU as from 1 January 2015, in the frame of the EU Savings Directive (“t … more

ESMA issues new enforcement priorities for 2014

The European Securities and Markets Authority (the ESMA) has published its European Common Enforcement Priorities (the Priorities) for 2014. These Priorities identify topics that the ESMA, together with Eur … more

koen-de-grave-author

The European Securities and Markets Authority (the ESMA) has published its European Common Enforcement Priorities (the Priorities) for 2014. These Priorities identify topics that the ESMA, together with Eur … more

VAT : incorporated company directors and liquidators subject to normal VAT rules

Services rendered by incorporated company directors and liquidators will be subject to VAT as from 1 January 2015. This stems from the fact that the former tolerance to opt for non-taxation will be … more

Wouter-Villette-2

Services rendered by incorporated company directors and liquidators will be subject to VAT as from 1 January 2015. This stems from the fact that the former tolerance to opt for non-taxation will be … more

New FSMA guidelines on the approval process for independent financial planners

On 4 November 2014, the Financial Services and Markets Authority (‘FSMA’) published a Memorandum dated 1st November 2014 on its website on the access to the legal status of independent financi … more

olivier-hermand-author

On 4 November 2014, the Financial Services and Markets Authority (‘FSMA’) published a Memorandum dated 1st November 2014 on its website on the access to the legal status of independent financi … more

Belgian reporting obligation for payments to tax havens

Belgian requirements for payments to ‘tax havens’ As from 1 January 2010, companies subject to Belgian corporate income tax or Belgian non-resident corporate income tax are obliged to declare direct or indirect payments exceeding E … more

PVC

Belgian requirements for payments to ‘tax havens’ As from 1 January 2010, companies subject to Belgian corporate income tax or Belgian non-resident corporate income tax are obliged to declare direct or indirect payments exceeding E … more

OECD publishes PE discussion draft (artificial avoidance)

The OECD has published its discussion draft on the Preventing of Artificial Avoidance of permanent establishment (PE) Status. This publication follows the BEPS (Base Erosion and Profit Shifting) timeline. A f … more

Isabel Verlinden

The OECD has published its discussion draft on the Preventing of Artificial Avoidance of permanent establishment (PE) Status. This publication follows the BEPS (Base Erosion and Profit Shifting) timeline. A f … more

OECD publishes comments on TP Comparability Data and Developing Countries paper

On 11 March 2014, the OECD invited comments from interested parties on the paper on Transfer Pricing Comparability Data and Developing Countries. This paper discusses four possible approaches to addressing … more

Isabel Verlinden

On 11 March 2014, the OECD invited comments from interested parties on the paper on Transfer Pricing Comparability Data and Developing Countries. This paper discusses four possible approaches to addressing … more

Exposure Draft: Recognition of DTA for Unrealised Losses (IFRS)

The IASB has proposed amendments to IAS 12 on deferred tax asset recognition for debt instruments measured at fair value. The exposure draft also suggests a new illustrative example. The comment period ends o … more

koen-de-grave-author

The IASB has proposed amendments to IAS 12 on deferred tax asset recognition for debt instruments measured at fair value. The exposure draft also suggests a new illustrative example. The comment period ends o … more

ESMA publishes updated Q&A on Prospectus issues

On 22 October 2014, the European Securities and Markets Authority (ESMA) published an updated version of its Q&A on Prospectus issues related the Prospectus Directive 20 … more

olivier-hermand-author

On 22 October 2014, the European Securities and Markets Authority (ESMA) published an updated version of its Q&A on Prospectus issues related the Prospectus Directive 20 … more

Net Asset Tax – Foreign Collective Investment Undertakings

The European Commission has announced yesterday its intention to refer Belgium to the EU Court of Justice in relation to the discriminatory taxation of foreign Collective Investment Undertakings</str … more

Patrice Delacroix

The European Commission has announced yesterday its intention to refer Belgium to the EU Court of Justice in relation to the discriminatory taxation of foreign Collective Investment Undertakings</str … more

New liability of inter-municipal organisations to corporate income tax as from 2015

After several proposals already during its previous terms of office, the new Federal Government has approved the liability of inter-municipal organisations to corporate income tax as from 1st January 2015. Ac … more

Patrice Delacroix

After several proposals already during its previous terms of office, the new Federal Government has approved the liability of inter-municipal organisations to corporate income tax as from 1st January 2015. Ac … more

R&D tax benefits: only limited time to take action

Several measures have been taken to stimulate investments in R&D. One of these measures is the partial exemption of remittance of Belgian withholding taxes in the framework of research and development. As … more

Nicolas de Limbourg

Several measures have been taken to stimulate investments in R&D. One of these measures is the partial exemption of remittance of Belgian withholding taxes in the framework of research and development. As … more

Tech tools provided by employers – new tax and social security treatment

The social security authorities are currently working on a new measure with respect to the valuation of the benefit in kind for private use of a PC, tablet, mobile phone and internet provided by employers to … more

Nicolas de Limbourg

The social security authorities are currently working on a new measure with respect to the valuation of the benefit in kind for private use of a PC, tablet, mobile phone and internet provided by employers to … more

Global Tax Accounting Services Newsletter (July – September 2014)

In this release we provide an update on a variety of accounting and reporting developments, including: an update on the income tax accounting topics added to the Financial Accounting Standards Board’s agenda amendments proposed to the International Accounting Standard 12 Income Taxes recent International Financial Reporting Standards Interpretation Committee’s guidance on some tax-related matters, and […]

koen-de-grave-author

In this release we provide an update on a variety of accounting and reporting developments, including: an update on the income tax accounting topics added to the Financial Accounting Standards Board’s agenda amendments proposed to the International Accounting Standard 12 Income Taxes recent International Financial Reporting Standards Interpretation Committee’s guidance on some tax-related matters, and […]

Existing split sale structures: ruling commission confirms possibility of re-constitution of full property

The ruling commission held a meeting a few days ago with the central tax administration to discuss the unwinding of existing split sale structures and to agree on a position regarding the potential reconstit … more

Gregory Jurion

The ruling commission held a meeting a few days ago with the central tax administration to discuss the unwinding of existing split sale structures and to agree on a position regarding the potential reconstit … more

Impact of announced tax measures on Transfer Pricing

As previously announced, a number of new tax measures has been announced in the framework of the Belgian government formation and the budget for 2015. Some of these will also have an impact on transfer pricing: The plan is to invest heavily in data mining tools for case selection purposes. These are likely to be used for […]

Patrick Boone

As previously announced, a number of new tax measures has been announced in the framework of the Belgian government formation and the budget for 2015. Some of these will also have an impact on transfer pricing: The plan is to invest heavily in data mining tools for case selection purposes. These are likely to be used for […]

Tax on conversion of bearer stocks – Infringement of EU Law

On 9 October 2014, the Court of Justice of the European Union (below ‘CJEU’) has rendered its decision in case C-299/13 relating to the compatibility of the Belgian tax on the conversion of bearer securi … more

Patrice Delacroix

On 9 October 2014, the Court of Justice of the European Union (below ‘CJEU’) has rendered its decision in case C-299/13 relating to the compatibility of the Belgian tax on the conversion of bearer securi … more

New Belgian tax measures announced

A number of new tax measures have been announced in the framework of the Belgian government formation and the budget for 2015, on which an agreement was reached in the second week of October 2014. These measu … more

PVC

A number of new tax measures have been announced in the framework of the Belgian government formation and the budget for 2015, on which an agreement was reached in the second week of October 2014. These measu … more

Stock options – Opinion on fiscal regime of stock options in case of a cashless exercise

The Court of Appeal of Ghent confirmed in its decision of 9 September 2014 that the so-called ‘cashless exercise’ of options does not prevent the application of the tax regime as ment … more

Nicolas de Limbourg

The Court of Appeal of Ghent confirmed in its decision of 9 September 2014 that the so-called ‘cashless exercise’ of options does not prevent the application of the tax regime as ment … more

New bilateral social security agreement between Belgium and Brazil

A social security agreement between Belgium and Brazil enters into force on 1 December 2014. This agreement enables companies to second employees to the other country while keeping them subject to the home so … more

Bart Elias

A social security agreement between Belgium and Brazil enters into force on 1 December 2014. This agreement enables companies to second employees to the other country while keeping them subject to the home so … more

Tax exemption on registration of foreign company cars: VAT certificate no longer required

In principle all cars that are used on public roads in Belgium have to be registered in Belgium, including company cars provided by foreign employers. However, depending on the factual circumstances, spec … more

Nicolas de Limbourg

In principle all cars that are used on public roads in Belgium have to be registered in Belgium, including company cars provided by foreign employers. However, depending on the factual circumstances, spec … more

ESMA Q&A – FSMA position papers – latest developments

The European Securities and Markets Authority (below ‘ESMA’) promotes common supervisory approaches and practices in respect of the application of the European Directive on Alternative Investment Fund Ma … more

olivier-hermand-author

The European Securities and Markets Authority (below ‘ESMA’) promotes common supervisory approaches and practices in respect of the application of the European Directive on Alternative Investment Fund Ma … more

Direct pension promise contracts need to be reported to DB2P before 31.12.2014

In 2006, the Belgian legislator decided to create a database for second pillar pensions (called ‘DB2P’). Information gathering started in 2011. DB2P will be fully operational soon. Pension instit … more

Christiaan Moeskops pwc_28

In 2006, the Belgian legislator decided to create a database for second pillar pensions (called ‘DB2P’). Information gathering started in 2011. DB2P will be fully operational soon. Pension instit … more

European Commission explains State aid investigations in Ireland and Luxembourg

On 30 September 2014 the European Commission published its opening decisions in the formal investigations into transfer pricing agreements between Apple and, allegedly, Fiat and – respecti … more

axel-smits-author

On 30 September 2014 the European Commission published its opening decisions in the formal investigations into transfer pricing agreements between Apple and, allegedly, Fiat and – respecti … more

Corporate income tax returns: extension of the filing deadline

Due to some technical maintenance on the server of the Belgian tax authorities, the electronic filing of the tax returns was not possible during the weekend. The Belgian tax authorities therefore decided to e … more

PVC

Due to some technical maintenance on the server of the Belgian tax authorities, the electronic filing of the tax returns was not possible during the weekend. The Belgian tax authorities therefore decided to e … more

Ex-officio tax relief – Extended application and clarification of the concept of ‘material error’

Within six months (as from the third working day) following the date of sending of the tax assessment notice by the Belgian tax authorities, taxpayers can file a tax claim in order to obtain a rectification. … more

Nicolas de Limbourg

Within six months (as from the third working day) following the date of sending of the tax assessment notice by the Belgian tax authorities, taxpayers can file a tax claim in order to obtain a rectification. … more

OECD Report on Action 6 – Treaty Abuse

The OECD published a discussion draft in March 2014 on proposals for addressing perceived abuse of tax treaties. The draft recommended extensive changes to the OECD Model Treaty together with suggested dome … more

axel-smits-author

The OECD published a discussion draft in March 2014 on proposals for addressing perceived abuse of tax treaties. The draft recommended extensive changes to the OECD Model Treaty together with suggested dome … more

OECD guidance on Transfer Pricing Aspects of Intangibles: Revised Chapters I, II and VI of the OECD Transfer Pricing Guidelines

On 16 September 2014, the OECD published its final and interim revisions in relation to Chapters I, II and VI of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations. Th … more

rp_246035426_150_150.jpg

On 16 September 2014, the OECD published its final and interim revisions in relation to Chapters I, II and VI of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations. Th … more

OECD finalises guidance on transfer pricing documentation and country-by-country reporting

On 16 September 2014, the Organisation for Economic Cooperation and Development (OECD) finalized its guidance in relation to transfer pricing documentation and country-by-country (CbC) reporting. The final r … more

axel-smits-author

On 16 September 2014, the Organisation for Economic Cooperation and Development (OECD) finalized its guidance in relation to transfer pricing documentation and country-by-country (CbC) reporting. The final r … more

Notion of ‘vesting or payment’ of second-pillar complementary pensions aimed at being clarified by Practice Note

Article 64 of the Program Act of 22 June 2012 (B.S. 28.06.2012) has changed the tax rates applicable to lump-sum payments and surrender values of employer or company-sponsored pensions (i.e. second-pillar … more

Nicolas de Limbourg

Article 64 of the Program Act of 22 June 2012 (B.S. 28.06.2012) has changed the tax rates applicable to lump-sum payments and surrender values of employer or company-sponsored pensions (i.e. second-pillar … more

Court of Appeal: VAT reverse charge – Penalties

A recent court case of the Brussels Court of Appeal again shows how expensive it can be for businesses not to apply the reverse charge and thereby not self-account for the VAT due on incoming invoices. <p dir="L … more

Wouter-Villette-2

A recent court case of the Brussels Court of Appeal again shows how expensive it can be for businesses not to apply the reverse charge and thereby not self-account for the VAT due on incoming invoices. <p dir="L … more

EU case law – Discriminatory tax treatment of foreign real estate income

According to Belgian income tax legislation, individuals who own a (secondary) house or apartment in Belgium (i.e. a built property other than their own dwelling) and who do not let out this property, are ta … more

Nicolas de Limbourg

According to Belgian income tax legislation, individuals who own a (secondary) house or apartment in Belgium (i.e. a built property other than their own dwelling) and who do not let out this property, are ta … more