The impact of COVID-19 on routine profits
Evidencing downward adjustments for limited risk entities commands more than a quick browse through high-level macroeconomic trends. As many companies consider to adjust their transfer pricing (TP) policies as a result of the current economic situation, we’ve performed a robust macroeconomic analysis linked to some 180,000 company data points. The approach is rooted in work
Update COVID-19 and cross-border employment: agreement between Belgium and Luxembourg on home working
As highlighted in our previous newsflashes, Belgium has recently concluded mutual agreements with the Netherlands, Germany and France regarding a “force majeure” approach for cross-border workers. An agreement with Luxembourg was still missing. However, the Belgian government has now published the Belgian-Luxembourg agreement recognising the ‘force majeure’ character of the COVID-19 health crisis and introducing
COVID-19: impact on the expatriate tax regime in Belgium
Even though national containment measures, to flatten the curve and ultimately stop the further spreading of the coronavirus, are gradually being phased out by many countries and we can even start to see a silver lining, the COVID-19 pandemic has a major impact on how people and organisations are functioning today and how they will
COVID-19 #16 Change of control – impact on tax attributes
A staggering US$2,500bn. That’s the estimated ‘dry powder’ currently held by private equity firms at a global level. Although a lot of that money is likely to be invested in businesses that are coping (reasonably) well with the ongoing crisis, troubled sectors may nonetheless see a greater deal of activity as they may present opportunities
Update COVID-19 and cross-border employment: agreement between Belgium and France on home working
The exceptional COVID-19 situation resulted in various government introduced measures which are themselves also exceptional and which are aiming to combat the spread of the coronavirus. Measures such as international travel restrictions, quarantine and lockdown (in whatever form or degree), also impact international business travel and prevent cross-border workers from carrying out their professional activities
COVID-19: New supportive Belgian tax measures
On 16 May 2020, after the first wave of supportive measures to mitigate the consequences of the COVID-19 crisis, the Council of Ministers adopted a draft law including new tax recovery measures. These provisions have as main aim to avoid a series of bankruptcies and to help companies to rebuild their liquidity and solvency positions.
Administrative circular on spin-off transactions
On April 20th, 2020, the Belgian Tax Administration issued the circular 2020/C/55 further detailing the tax treatment of spin-off transactions according to article 264, first paragraph, 4° of the BITC 92. Context As a reminder, the so-called spin-off transactions are not demerger transactions nor transactions assimilated to a demerger, as defined by article 2, §1,
Brexit and COVID-19: another extension debate?
As, today, companies are dealing, as a priority, with the impact of the COVID-19 crisis on their overall business, the question arises what impact COVID-19 will have on the Brexit timeline. The UK formally left the EU on 31 January 2020. Unless an extension is requested before 1 July, the agreed transition period will
