Belgium and the US sign FATCA Intergovernmental Agreement
On 23 April 2014, Minister of Finance, Koen Geens and US Ambassador, Mark Storella signed the long awaited bilateral Intergovernmental Agreement (IGA) intended to implement the Foreign Account Tax Compliance Act (FATCA). The IGA will provide needed clarity around the implementation of FATCA for the Financial Institutions (FIs) resident in Belgium and those with branches
EC Infringement Procedure
On 16 April the European Commission requested the Netherlands to end the discriminatory tax charge on dividends received on shares held by insurance companies based in another EU Member State or EEA member country
New daily lump-sum allowances for foreign business trips
An employer/company can pay daily lump-sum allowances for foreign business travel to employees or company directors in order to reimburse certain expenses. The lump-sum reimbursements can be determined on the basis of the list of allowances paid by the Federal Public Department of Foreign Affairs to its posted agents.New lists have been published to determine
The EU Joint Transfer Pricing Forum published the transfer pricing profiles of EU Member States.
The EU Joint Transfer Pricing Forum has published various transfer pricing profiles of EU Member States on its website. These profiles contain information for the EU Member States on the domestic transfer pricing framework and regulations, transfer pricing documentation requirements, information on dispute resolution, competent authorities’ contact details and other transfer pricing related topics. The
Tax return deadline for income year 2013 (assessment year 2014) – Individuals
The tax return deadlines for assessment year 2014 (income 2013) have been confirmed by the Belgian tax authorities.
Tax return deadline for income year 2013 (assessment year 2014) – Corporates, legal / non-resident entities
The Belgian tax authority has communicated the deadlines for the different tax returns assessment year 2014 for corporates, legal entities and non-resident entities. An overview of these deadlines can be found below. For tax residents and non-residents with an accounting year ending on 31 December 2013: Corporate income tax return Belgian tax residents 30 September 2014 Income
Parliamentary question clarifies whether (for direct tax purposes) “small tools, small equipment and stationary” should be considered as an investment or an immediate expense.
Recently, the minister of Finance answered a Parliamentary question regarding “small equipment, small tools and stationary”, i.e. whether for direct tax purposes, “small equipment, small tools and stationary” should not be considered as an investment and can therefore be directly expensed? According to the Minister of Finance, and based on accounting law, the company should define the valuation rules in
The OECD’s public consultation on transfer pricing documentation and country-by-country reporting on 19 May
The OECD will hold a public consultation on the discussion draft on transfer pricing documentation and country-by-country reporting on 19 May 2014 at the OECD Conference Centre in Paris, France. The public consultation will be broadcast live on the Internet and can be accessed on line. No advance registration will be required for Internet access. Persons wishing
