Online reporting of foreign bank accounts now available
As communicated earlier, all tax residents of Belgium must now report their foreign bank accounts to the Central Contact Point (CCP) with the National Bank of Belgium. Since 26 May 2015, tax residents of Belgium can also use the online tool on the website of the Central Contact Point (https://cappcc.nbb.be) to report their foreign bank
Revised OECD Discussion Draft on Treaty Abuse published
On Friday, 22 May 2015, the OECD issued a Revised Discussion Draft on BEPS Action 6: Prevention of Treaty Abuse (the RDD). The RDD includes a simplified Limitation on Benefits (LOB) Article for inclusion in the OECD Model Income Tax Convention and provides ‘conclusions and proposals’ on 20 targeted issues. Most of the proposals are
Swiss Federal Supreme Court rules in Withholding Tax Case for Danish banks
The Swiss Federal Supreme Court has delivered two judgements regarding Swiss withholding tax refund cases for two Danish banks involved in derivative transactions over the dividend ex-date with Swiss equities. In both cases, the Swiss Federal Supreme Court ruled in favour of the Federal Tax Authority (FTA) and overruled the previous decisions taken by the
Revised OECD Discussion Draft on permanent establishments – PwC Newsflash published
As mentioned in the news alert published on 18 May 2015, the OECD issued a revised discussion draft on preventing the artificial avoidance of permanent establishment (‘PE’) status under Action 7 of the BEPS Action Plan. The earlier OECD proposals, which set out alternative approaches to a number of significant PE issues, have been replaced by
Foreign bank accounts must be reported to Belgian National Bank
As from now all tax residents of Belgium must report their foreign bank accounts to the Central Contact Point (CCP) with the National Bank of Belgium. If you (or your dependent children) had a foreign bank account (of any type) during the calendar years 2011, 2012, 2013 and/or 2014, you have the obligation to report
Revised OECD Discussion Draft on permanent establishments published
On 15 May 2015, the OECD issued a revised discussion draft on preventing the artificial avoidance of permanent establishment (‘PE’) status under Action 7 of the BEPS action plan. The proposals in this revised discussion draft (which the OECD calls the ‘new discussion draft’ or ‘second discussion draft’) were all included among the options that appeared
Proposal to increase the maximum amount for non-recurring collective bonuses
On 6 March 2015, the Federal Council of Ministers approved a draft Royal Decree to increase the maximum (gross) amount of non-recurring collective bonuses from EUR 3,100.00 to EUR 3,169.00 as from 1 January 2016. The Federal Labour Council also approved the draft Royal Decree and has now requested to increase the maximum amount to
Net Asset Tax – annulment of retroactive tax increase for credit institutions
The Net Asset Tax (‘NAT’) rate for assessment year 2013 for credit institutions has been increased from 0.0800% to 0.0965% by the Act of 17 June 2013 and from 0.0965% to 0.1200% by the Act of 30 June 2013. The increased NAT rate applied to already filled NAT returns, resulting in taxpayers being forced to
