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Latest news & developments

Additional extension for the filing of corporate tax returns: 16 November 2020

13 October 2020

In the newsflash of July 2020, we informed you that the Minister of Finance decided to extend the initial filing due date for filing the corporate income tax returns of assessment year 2020 to 29 October 2020. All Belgian companies (and foreign entities having a Belgian establishment) could benefit from this extension. It has now

High net worth individuals on the radar of Vivaldi!

2 October 2020

One of the measures announced by the newly formed government (“the Vivaldi coalition”) is the taxation of the major financial transactions (“MFTT”). Although only the main principles of this tax are known at this stage, the purpose would be to tax high net worth individuals. The impact of the tax is estimated between 150 to

A first glimpse in the tax measures of the Vivaldi government

30 September 2020

Belgium lands on relaunch government Today, 7 political parties reached an agreement on the formation of a new Belgian government (the so-called Vivaldi government).  While the last edits are being made to the agreement, the broad outline is becoming clear.  The agreement mentions the intention for a relance and investment plan of 4.7 bln EUR

Tax loss carry-back system: administrative circular letter published

30 September 2020

On 22 September 2020, the Belgian tax authorities issued a circular letter (administrative guideline) in relation to the tax loss “carry-back” system. Previously, a Royal Decree was published on 1 September 2020 which further clarifies the formalities to be fulfilled in order to apply the loss “carry-back” system. In our newsflash of 2 July 2020,

Corporate tax update: Recent circular letter, advance tax payments Q3 opportunity

21 September 2020

Considering the exceptional business environment various corporate income tax measures have been taken to sustain the liquidity and solvability position of both resident and non-resident corporate taxpayers. Advance tax payments A recent circular letter of 1 September 2020 confirmed the conditions and increased credit percentages for advance tax payments that can be made in the

Consolidation of Joint Ventures not always required for the 30% EBITDA rule

18 September 2020

As from assessment year 2020 (FY starting as from 1 January 2019) a 30% EBITDA rule limits the maximum amount of interest relief, whereby ‘exceeding borrowing costs’ are only tax deductible up to the higher of 30% of the tax-adjusted EBITDA or €3m. This de minimis rule should be calculated at Belgian group level. Based