Law implementing recovery procedure with regard to the Belgian excess profit provision adopted
Belgium has adopted on 22 December 2016 the law covering the implementation of the European Commission (‘EC’) decision of 11 January 2016 (‘Decision’) with regard to the Belgian excess profit provision based on Article 185 §2 of Belgian Income Tax Code 1992 (‘BITC’). The law, which has been drafted in cooperation and with the approval
New legislation on posting of employees adopted by the Belgian Chamber of Representatives
In the Belgian Official Gazette of December 20th, the Act of December 11th, 2016 laying down several provisions with respect to the posting of employees was published. This Act transposes the Enforcement Directive 2014/67/EU (“Enforcement Directive”) of the Posting Directive 96/71/EC (“Posting Directive”) into Belgian law and includes, among other measures, a number of additional
Benefit in kind – Private use of a company car: updated formula for 2017
The new reference CO2 emission for calculating the taxable benefit in kind for the private use of a company car in the hands of company directors and employees has been published on 5 December 2016 (Royal Decree of 24 November 2016). For income year 2017, the following CO2 emission will be applied to the above
Company cars, internal capital gains, withholding tax, … What are the new tax measures for the year end?
Last October, the Federal Government reached an agreement on the budget and, in this framework, on several tax measures. The most important ones relate to the taxation of company cars and the end of the tax-free step-up in the case of a contribution in capital of shares by an individual (commonly referred to as “internal
Bill transposing the UCITS V Directive has been submitted to the Belgian Chamber of Representatives
On 2 December 2016, a Bill was submitted to the Belgian Chamber of Representatives to transpose Directive 2014/91/EU on undertakings for collective investment in transferable securities (UCITS V or the Directive)(1). The Directive revises the UCITS Directive(2) in relation to depositary functions, remuneration policies and sanctions. Transposing UCITS V The Directive introduces new rules on undertakings for
New PID Regime: Innovation Income Deduction
On 2 December 2016, the Council of Ministers approved the draft Bill on the new Innovation Income Deduction regime. This pre-draft law still has to be approved by Parliament, so the below is still subject to changes. In contrast to the previous Patent Income Deduction (PID) regime, the qualifying patent/innovation income will be calculated on
Draft law on the new Belgian Innovation Income Deduction
Today, the Council of Ministers approved the new Belgian Innovation Income Deduction (IID) which will be BEPS-compliant and will replace the abolished Patent Income Deduction. The draft law is now subject to recommendations from the Council of State. The important takeaways of the IID are: The taxable result of a Belgian company or branch will
Commission proposes new VAT rules to support e-commerce and online businesses in the EU
Yesterday, the EU Commission has introduced a series of proposals to simplify the VAT rules for e-commerce and reduce compliance on online sales of goods. The proposals include: Broadening of the One-Stop-Shop system to companies selling goods online (distance sales); Thresholds for cross-border sales of electronic services; Removal of the VAT exemption for small value
