Facilitation for Belgium-Luxembourg cross-border workers
The Belgian and Luxembourg governments had a joint meeting yesterday in Brussels and came to the following agreement with respect to cross-border employment tax situations: With respect to wages taxes, a tolerance will retroactively (as from 1 January 2015) enter into force regarding the physical presence outside the (usual) country of employment. Concretely, a Belgian resident
Constitutional Court annuls the tax on conversion of bearer securities
On 5 February 2015, the Belgian Constitutional Court rendered a judgement that annuls tax on the conversion of bearer securities, due to its incompatibility with EU law, in particular with Directive 2008/7/EC of 12 February 2008 concerning indirect taxes on the raising of capital. This judgment follows a decision rendered in case C299/13 in which the
EU FTT – another statement of intent by EU Finance Ministers
Two weeks ago, in our Newsflash dated 22 January 2015, we discussed the latest developments in respect of the EU FTT since the turn of the year. Following the lack of consensus between the 11 participating Member States (“PMS’) at the end of last year, it was therefore noteworthy that President Hollande of France stated
The FASB proposes two Accounting Standard Updates on income taxes
As part of a simplification initiative, the Financial Accounting Standards Board (‘FASB’) issued an exposure draft of two proposed Accounting Standard Updates (‘ASUs’) relating to the accounting for income taxes of the following items: Intra-Entity Asset Transfers Currently the buyer and the seller involved in intra-entity asset transfers are generally required to defer the income
Belgian tax authorities initiate new wave of transfer pricing audits
The Belgian tax authorities have initiated a new wave of transfer pricing audits, similar to those initiated in 2013 and 2014. Multiple taxpayers have already received or will receive in the next few days an in-depth questionnaire that focuses on their transfer pricing arrangements. The request for information on intercompany transactions and activities of the
