Belgian companies having a 31 December year-end should have deposited their statutory financial statements with the National Bank of Belgium (“NBB”) by 31 July 2024 at the very latest. Late filing results in a number of negative consequences from a financial, director’s liability and corporate income tax perspective (see below).
If your company’s statutory financial statements have not yet been finalized and filed per today, urgent action is required. Do not hesitate to call upon our assistance in regularizing your company’s situation or in case you would like to improve your statutory reporting process for the next year-end cycle.
Late filing result in a number of consequences:
- increased filing costs are being charged by the NBB as from the ninth month after the company’s financial year-end closing (i.e. as from September 2024);
- potential director’s liability may arise for mismanagement and violation of the articles of association and the Code on Companies and Associations;
- any interested party, the Public Prosecutor or a business investigation chamber may claim the dissolution of a company before the Commercial Court (however, the court may grant a regularization period).
Also, the annual corporate income tax return deadline of 30 September 2024 is approaching rapidly.
Filing a complete (including approved statutory financial statements), timely and well-documented tax return is not only important to safeguard deductions and tax incentives applied, but also to avoid penalties and unnecessary scrutiny by the Belgian tax authorities.
Our Belgian experts and our global Statutory COE are available to help you with all your challenges!
For more insights and support, contact your regular PwC advisor or Jorgen Broothaers (jorgen.broothaers@pwc.com), Joeri Aertssen (joeri.aertssen@pwc.com), Tonny Taeymans (tonny.taeymans@pwc.com), Stijn Van den Bogaert (stijn.van.den.bogaert@pwc.com), Laurens De Both (laurens.de.both@pwc.com) or Anthony Correas Muniz (anthony.correas.muniz@pwc.com).
