OECD released report on Neutralising the Effects of Branch Mismatch Arrangements (BEPS Action 2)
On 27 July 2017, the OECD released the report on Neutralising the Effects of Branch Mismatch Arrangements (BEPS Action 2). This report sets out recommendations for branch mismatch rules that would bring the treatment of these structures into line with the treatment of hybrid mismatch arrangements as set out in the 2015 Report on Neutralising the Effects
Belgian tax reform: impact on the FS industry
On 26 July 2017, the Belgian federal government reached an agreement on an important corporate tax reform. The contemplated changes go far beyond corporate tax as they also have a direct impact on the taxation of financial products, hence on the FS industry in general. Wealth Management Belgian Tax on Savings Income (art. 19bis ITC)
Belgian tax reform reduces corporate rate to 25% and introduces fiscal consolidation
On 26 July 2017, the federal government reached an agreement on an important tax, economic and social reform package. A significant gradual reduction in the corporate income tax rate to 25% in 2020 and fiscal consolidation are key components of the package. The agreement preserves the notional interest deduction. The tax reform is built around
Belgian tax reform: impact on the real estate industry
Yesterday, the Belgian government reached an agreement on several tax measures, including a corporate tax reform and the introduction of an option to apply VAT on immovable letting. Although these measures will be developed further in detail in the coming months, it is already certain they will have an important impact on the Belgian real
Belgium decides to reduce corporate tax rate from 34% to 25%
Remark: The following announced measures will have to be formalised in draft legislation which should only be available as from September/October. Only then will full details be known. On 26 July 2017, the Federal government reached an agreement on an important corporate tax reform, significantly reducing the corporate tax rate. More details will follow below.
MiFID II – FSMA communication on preparation for the entry into force of the MiFID II directive (for the aspects relating to conduct of business rules)
Background This communication has been published in the context of the new legal framework arising from the Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU, and which will enter into force in January 2018. What’s new? The
Ruling: guidance on how amendments to an existing ruling are treated
In its last newsletter published on 13 July, the Belgian Rulings Office has given an interesting clarification on how requests to obtain an amendment to an advance decision (so-called ‘Avenants’) will be treated. This often refers to situations where after the decision was granted certain critical facts change and that comfort is sought on the
Belgian UBO-register on its way
According to the fourth Anti-Money Laundering Directive (2015/849), adopted by the European Parliament on 20 May 2015, one of the obligations of all EU Member States was to establish a national register of ultimate beneficial owners (UBO) before 26 June 2017. Through the introduction of this register, the Member States will have an additional tool