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Latest news & developments

Reduced Belgian net asset tax rate soon also for foreign institutional funds

27 June 2017

A recent bill of law on various financial and tax provisions aims at adapting the Belgian annual tax on undertakings for collective investment (the Belgian ‘Net Asset Tax’ or ‘NAT’), in particular at the level of the tax rate applicable to foreign institutional funds. As a reminder, the Belgian NAT standard rate is currently 0.0925%.

New lump-sum amount for reimbursement of business use of private car

24 June 2017

Employees using a privately-owned car for business purposes can now be reimbursed a lump-sum amount of EUR 0.3460 per kilometre. Costs that an employee incurs when using a privately-owned car for business purposes can be reimbursed by the employer free of income tax and exempt from social security contributions. Repayment can be made on a

Belgian Tax on Stock Exchange Transactions: Capitalising v. Distributing Shares

22 June 2017

The Finance Minister recently commented on the definition of capitalising v. distributing shares of an investment company in the framework of the Belgian Tax on Stock Exchange Transactions. According to the Minister, the distinction between “distributing shares” and “capitalising shares” for the purposes of the tax on stock exchange transactions corresponds in principle to the

European Parliament Committees approve public Country-by-Country Reporting proposal

16 June 2017

Further to the work of the OECD in the framework of the BEPS project, the European Parliament’s Economic and Monetary Affairs and Legal Affairs (ECON/JURI) committee members adopted on Monday 12 June 2017 their joint report on the EU Commission’s draft public CbCR Directive (The consolidated committee report is not yet published, but should be

Draft MLI positions of different territories reflect a range of views on BEPS implementation

15 June 2017

As a result of a new legal instrument, changes to the allocation of taxing rights and the introduction of new anti-avoidance rules mean that, once ratified, businesses and individuals may no longer qualify for double taxation relief on a range of cross-border transactions and activities. Taxable presences, compliance burdens, and tax liabilities could increase, and