Belgian tax authorities to carry out audit of expats
The authorities have informally confirmed that they will launch an audit of foreign executives who have been benefiting from the special expat tax status for over ten years. The special tax status available for expat executives in Belgium Under certain conditions, foreign executives who are temporarily assigned to work in Belgium can benefit from a
France and the US sign bilateral agreement on the implementation of FATCA
FATCA milestone reached after signing of tenth IGA with France On 14 November 2013, French Minister of Economy and Finance Pierre Moscovici and US Ambassador to France Charles H. Rivkin signed a bilateral Intergovernmental Agreement (IGA) intended to implement the Foreign Account Tax Compliance Act (FATCA). FATCA was enacted by the US in 2010 to
All lawyer fees subject to VAT as of 1 January 2014 – New practice note published
The Act of 30 July 2013 (NL/FR) confirmed the removal of the Belgian VAT exemption for services of lawyers with effect from 1 January 2014. As a result, VAT has to be applied to all fees and costs charged for lawyer services rendered as of 1 January 2014. To do so, in principle, all Belgian-based
Tax authorities target foreign source professional income
If the relevant double tax treaty allocates the right to tax employment income to another state, the income will in principle be exempted from taxes in Belgium. However, for tax residents of Belgium, foreign source professional income still needs to be reported in the Belgian personal income tax return and an exemption (with progression reserve)
The PwC & ISW Limits Reward Barometer
Against a backdrop of economic turbulence, attracting, motivating and retaining talent while keeping costs in check can be a challenge. Motivation is tightly linked to the rewards people receive for their labour, so while organisations are forced to do more with less, they also have to enhance the perceived value of their rewards, both financial
PwC comments on the draft ‘FFI agreement’ and related guidance
Notice 2013-69 (the Notice) was released on October 29, 2013 by the Internal Revenue Service (IRS) and covers: Guidance to FFIs and branches of FFIs; Guidance for stakeholders, but it also contains some surprising twists; A draft version of the FFI agreement and describes an FFI’s general responsibilities; Miscellaneous guidance such as the application of
