Cadastral income for properties abroad – update
As mentioned in our Newsflash of 8 December 2020, the European Court of Justice (ECJ) imposed a lump-sum fine and penalties for each day that the Belgian tax authorities would continue to maintain a difference in tax treatment for rental income depending on whether the property is located in Belgium or abroad. In order to
Update COVID-19 and cross-border employment: agreements with the Netherlands and Luxembourg extended
In our newsflash of 10 December 2020 and our newsflash of 11 December 2020 we referred to the extension of the mutual agreements between Belgium and the Netherlands / Luxembourg, which includes a “force majeure tolerance” for cross-border workers in relation to government imposed COVID-19 (travel) restrictions. As countries are rolling out comprehensive vaccination schemes
Implementation of CRD V into Belgian law – Are banks’ remuneration policies and practices gender-neutral?
On 26 February 2021, the Council of Ministers approved a first reading of the draft law transposing certain EU directives into Belgian law, among which the fifth Capital Requirements Directive (CRD V). The latter entered into force in June 2019 and should have been transposed by Member States by 28 December 2020. As a reminder,
Employer interventions for homework: updated guidelines beyond COVID-19
As many questions on the possible financial contributions that employers may make to the various home office costs incurred by their employees remained unanswered in the Circular of 14 July 2020 (see our newsflash of 17 July 2020 in this respect), a new Circular (2021/C/20) was published by the Federal Public Service for Finance on
Shareholders’ say on pay – Prepare your next general meeting – Last call
In our newsflash dated 6 May 2020, we informed you about the extended say on pay of shareholders introduced by the Revised Shareholders’ Rights Directive (SRD II) and implemented into Belgian law for Belgian quoted companies. Remuneration report: extended transparency on individual pay disclosure & pay ratio Shareholders have their word to say on the
Home working expense allowance – update
On 12 February, the Minister of Finance, Mr. Vincent Van Peteghem announced that some fiscal support measures will, further to the Covid-19 pandemic, be extended. One of these measures relates to the home working allowance. Since the government thinks that many companies will continue encouraging home working after the Corona Crisis, the tax-free allowance for
Tax forms 281.10 (employees) and 281.20 (company directors) – Income of 2020: also for remuneration received from related foreign companies!
The models of salary slips (“Fiche 281.10” for employees and “Fiche 281.20” for company directors) to be used to report remuneration paid or granted in 2020 are now available on the Federal Public Service (“FPS”) of Finance’s website. The fiches 281.10 and 281.20 must be lodged electronically (via Belcotax-on-Web) with the FPS before 1 March
R&D wage withholding tax incentive – Mind the (expanded) formalism and prepare yourself!
Just like last year (see our earlier newsflash), the Belgian tax authorities have been issuing extensive and numerous tax audits with respect to the application of the wage withholding tax exemption for Research and Development. Please find hereafter some important key takeaways. Mind the formalism and be prepared to substantiate the incentive claimed! Mind the (expanded) formalism
