In April 2016, the Federal government, in the framework of the agreement on additional budgetary and recovery measures following the 2016 budgetary control exercise, announced a reform of the Belgian corporate income tax (see our news flash on 11 April 2016). In July 2016, the ‘High Finance Council’ has published a report examining the different
On 22 August 2016, the OECD published, for discussion, recommendations for domestic laws that would neutralise the effect of payments involving certain branch mismatch arrangements. This expansion of the final Base Erosion and Profit Shifting (BEPS) Action 2 paper, Neutralising the Effects of Hybrid Mismatch Arrangements, issued on 5 October 2015, adds even more complexity
This summer, the Parliament adopted a range of new tax measures (more details below). Other measures are currently under review at the Chamber or pending before the State Council. More details on the new tax measures are announced on our website: Tax reform in Belgium. Patent income deduction The Act of 3 August 2016 providing
As from 1 July 2016, the existing Belgian patent income deduction (‘PID’) regime has been abolished (Official Gazette of 11 August 2016, 2nd ed.). Indeed, in line with the so-called ‘modified’ nexus approach, the current patent box regime had to be replaced with a BEPS (in particular Action Point 5 of the OECD BEPS Action
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On 28 July the OECD released a discussion draft relating to deductions for interest in the banking and insurance sectors. This is part of the ongoing work for BEPS Action 4, Limiting Base Erosion Involving Interest Deductions and Other Financial Payments, which was released as a final report in October 2015. The discussion draft does
The Luxembourg Government introduced a bill on 26 July 2016, with proposed tax measures for corporations for the 2017 tax year. The proposed changes are in line with the announcements made by the Government earlier this year. Although the bill has not been finalised, multinational enterprises operating in Luxembourg should start considering how the proposed measures,