OECD publishes comments on TP Comparability Data and Developing Countries paper
On 11 March 2014, the OECD invited comments from interested parties on the paper on Transfer Pricing Comparability Data and Developing Countries. This paper discusses four possible approaches to addressing the concerns expressed by developing countries over the lack of data on comparables (expanding access to data sources for comparables, more effective use of data sources
Exposure Draft: Recognition of DTA for Unrealised Losses (IFRS)
The IASB has proposed amendments to IAS 12 on deferred tax asset recognition for debt instruments measured at fair value. The exposure draft also suggests a new illustrative example. The comment period ends on 18 December 2014. The exposure draft proposes to clarify the following: unrealised losses on debt instruments measured at fair value and
ESMA publishes updated Q&A on Prospectus issues
On 22 October 2014, the European Securities and Markets Authority (ESMA) published an updated version of its Q&A on Prospectus issues related the Prospectus Directive 2003/71/EC (Prospectus Directive) and the accompanying Commission Regulation on Prospectuses EC No 809/2004 (Regulation). The Prospectus Directive and accompanying Regulation establish a harmonised format for prospectuses in Europe and allow
Net Asset Tax – Foreign Collective Investment Undertakings
The European Commission has announced yesterday its intention to refer Belgium to the EU Court of Justice in relation to the discriminatory taxation of foreign Collective Investment Undertakings (“CIU”) located in another member state of the EU/EEA. The Belgian Inheritance Tax Code – which provides for the Net Asset Tax rules – indeed foresees a
New liability of inter-municipal organisations to corporate income tax as from 2015
After several proposals already during its previous terms of office, the new Federal Government has approved the liability of inter-municipal organisations to corporate income tax as from 1st January 2015. According to our experience, transiting from the tax on corporate bodies to corporate income tax is a complex issue to manage since the tax legislation
R&D tax benefits: only limited time to take action
Several measures have been taken to stimulate investments in R&D. One of these measures is the partial exemption of remittance of Belgian withholding taxes in the framework of research and development. As of July 2013, the exemption increased from 75% to 80%. Besides the increase in percentage, since 1 January 2014, a notification obligation has
VAT: Advance invoicing – ultimate regulations Belgian VAT authorities
The Belgian VAT authorities recently published a new administrative decision with regard to the new definitif advance invoicing rules coming into force on 1 January 2015. This new decision brings an end to the transitional measures applicable from 1 January 2013 till 31 January 2014. The new final rules provide some interesting tolerance on the legal principles related to advance
Tech tools provided by employers – new tax and social security treatment
The social security authorities are currently working on a new measure with respect to the valuation of the benefit in kind for private use of a PC, tablet, mobile phone and internet provided by employers to their employees. If employees receive a PC, tablet, mobile phone and/or an internet connection from their employer, social security
