European Commission proposes Corporate Tax Package
On 25 October 2016, the European Commission (EC) adopted yet another comprehensive tax package which consists of four new draft EU Directives on: a Common Corporate Tax Base (CCTB Directive) a Common Consolidated Corporate Tax Base (CCCTB Directive) hybrid mismatches with third countries double taxation dispute resolution mechanisms in the EU (Dispute Resolution Directive) In
Belgian-regulated investment funds: tax-on-tax
On 20 October 2016, the Belgian Constitutional Court rendered a decision confirming the non-discriminatory character of the requirement for Belgian-regulated investment funds (such as SICAV/SICAF and the new FIIS), Regulated Real Estate Companies (RRECs) and Pension Funds organised as OFPs to report corporate income tax expenses/provisions as disallowed expenses in their corporate income tax returns, resulting
New double tax treaty signed between Belgium and Japan
On 12 October 2016, the new Belgium-Japan Income Tax Treaty was signed in Tokyo during the Belgian economic mission. Once in force and effective, the new treaty will replace the old Belgium-Japan Income Tax Treaty (1968) as amended by the protocols signed in 1998 and 2010. The treaty will enter into force 30 days after
Belgian Accounting Standards Commission issues opinion on Belgian GAAP treatment of discounting deferred taxes
The Belgian Accounting Standards Commission (‘CBN/CNC’) has considered whether deferred taxes on capital grants and realised capital gains can – from a Belgian GAAP perspective – be recognised in a company’s balance sheet at the discounted value of the deferred tax. Under Belgian GAAP, deferred taxes should be recognised in a company’s balance sheet at
Belgian Tax on Stock Exchange Transactions also soon applicable to ‘foreign platforms’
The Belgian government has just announced that the scope of the Belgian Tax on Stock Exchange Transactions (‘TOB’ or ‘beurstaks’) would be extended in order to also cover ‘foreign platforms’. This announcement is part of the budget agreement presented last Sunday. As a recall, the application of the tax to foreign platforms has raised many
Budget 2017: New tax measures announced – Corporate tax reform reconfirmed but not yet decided
In the framework of the budget for 2017, the Federal Government reached an agreement on several tax measures. On 16 October 2016, during the policy statement, the Prime Minister announced what follows: The speculation tax for individuals on the transfer of quoted shares would be abolished as of 1 January 2017; Tax on stock exchange