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Latest news & developments

OECD Secretariat seeks input on global minimum tax design

14 November 2019

On 8 November, the Organisation for Economic Co-operation and Development (OECD) Secretariat published a Public consultation document: the Global Anti-Base Erosion Proposal (‘GloBE’) (Pillar II) which seeks stakeholders’ views on the introduction of common global minimum tax rules across the more than 130 countries participating in the OECD Inclusive Framework. Such rules would operate through top-up taxes

R&D wage withholding tax incentive audits – Mind the formalism and prepare yourself

13 November 2019

As mentioned in our earlier newsflash the Belgian tax authorities have been issuing extensive and numerous tax audits with respect to the application of the wage withholding tax exemption for Research and Development over income year 2017.  Please find hereafter some very important key takeaways. Mind the formalism and be prepared to substantiate the incentive claimed!

Update: Brexit extension and new UK elections

31 October 2019

The European Union agreed on a ‘flextension’ of the Brexit deadline to 31 January 2020 with the option for the UK to leave the EU earlier if the (re)negotiated Withdrawal Agreement is approved by both the UK Parliament and the European Parliament before that date. Specific terms were, however, specified by the EU27 as regards

Brexit Update – No Brexit deal Vote: MP’s force PM Johnson to seek further extension

19 October 2019

The UK Parliament was set to vote on PM Johnson’s exit deal today in its extraordinary Saturday sitting.  The Letwin amendment (voted by 322 to 306) however prevented the vote on the Brexit deal. The amendment as introduced by Mr Oliver Letwin says the House of Commons would “withhold support” from Johnson’s plan until all

Constitutional Court Annuls the Tax on Securities Accounts

19 October 2019

By law of 7 February 2018, the legislator introduced a tax on securities accounts (“taks op de effectenrekeningen”/“taxe sur les comptes-titres”). Many petitions to annul this law have been introduced before the Constitutional Court. In its judgement dd. 17 October 2019, the Constitutional Court annulled the law (and thus the tax), but decided to maintain

Charitable bequests and donations: an update

10 October 2019

The new Flemish Government has announced some important changes in the field of bequests and donations.    1.   Duo bequest (duo-legaat / duo-legs) In case of a so called ‘duo bequest’, (part of) the estate is left to a charity organisation under the condition to pay out a certain amount of the bequest to a