BEPS webcast series: A focus on treaty benefits
The OECD recently released its discussion draft on the use of treaty benefits in inappropriate circumstances. In response to this draft, part of the Base Erosion and Profit Shifting (BEPS) Action Plan, we will hold another webcast in our series, exploring the OECD’s Coordinated Action Plan on BEPS. Date: 7 April 2014 Time: 12:00 pm
Foreign business trips – Costs proper to the employer
Costs incurred by employees during foreign business trips can be reimbursed free of income tax by their employer on a lump sum basis, provided the amount reimbursed is in line with the expense rates applied by the government for its own state personnel. As stated in a previous headline, for foreign business trips exceeding 30
OECD discussion drafts may impact private equity arrangements
The OECD released draft reports between 14 March 2014, and 19 March 2014, as part of the Base Erosion and Profit Shifting program that call for substantial changes to domestic tax rules, double taxation agreements, and amendments to the OECD Model Tax Convention and Commentary. If the recommendations are widely adopted, they will have a
Investment deduction percentages for assessment year 2015 published
On 26 March 2014, the new percentages for investment deduction, applicable to assessment year 2015 (income year 2014), were published in the Belgian Official Gazette. Generally speaking, to the extent specific legal conditions are met, Belgian companies or Belgian branches of foreign companies can deduct above the normal amortisation rules an extra percentage of the
Tax authorities target the partial exemption of remittance of Belgian withholding taxes
The amount of Belgian withholding taxes is based on the withholding income tax scales published in a Royal Decree. The Belgian income tax code foresees several exemptions (overtime, research and development, night and shift work,…) with respect to the remittance of Belgian withholding taxes. In this respect, it should be noted that the Belgian tax
EU Council of Ministers adopts new rules on the taxation of savings income
The EU Council of Ministers has adopted a Directive strengthening EU rules on the exchange of information on savings incomes, aimed at enabling the Member States to better clamp down on tax fraud and tax evasion. This follows a European Council agreement reached on 20 March. For further information see the Council press release, the
OECD releases two discussion drafts on hybrid mismatch arrangements
The two draft reports released on 19 March 2014 by the OECD call for the introduction of both domestic rules and amendments to the OECD Model Tax Convention to neutralize the effect of hybrid mismatch arrangements. The recommendations of the OECD on hybrid mismatch arrangements result from Action 2 of the Action Plan on Base
PwC formatted version of temporary & final FATCA regulations
PwC has updated its formatted version of the FATCA regulations. The new edition is available for download by following this link. The regulations The US Department of the Treasury and the Internal Revenue Service (IRS) released on 20 February 2014 temporary and final regulations for FATCA as well as changes to coordinate the FATCA regulations
