Tax forms 281.10 (employees) and 281.20 (company directors) – Income of 2019
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 2019 are now available on the Federal Public Service (“FPS”) of Finance’s website. The fiches 281.10 and 281.20 must be lodged electronically with the FPS before 1 March 2020. In
R&D wage withholding tax incentive audits – Mind the formalism and prepare yourself
As mentioned in 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 over income year 2017. Please find hereafter some very important key takeaways. Mind the formalism and be prepared to substantiate the incentive claimed!
New Flemish Government – Coalition Agreement (2019-2024): Anticipated tax changes for individual persons
On 30 September 2019, the new Flemish coalition agreement was finally announced (read the full text here). Below, you can find an overview of the most important anticipated changes from a personal income tax point of view. For an overview of the gift and inheritance tax measures, we refer to our newsflash of 3 October
Withholding tax exemption for shift work – Update
Incorrect application of the withholding tax exemption for shift work can result in very substantial claims from the tax authorities. In a recent newspaper it was for example pointed out that VAB is risking to pay millions of euros to the Belgian tax authorities in case it would lose its case before court. Shiftwork is defined by law
France: upcoming new withholding tax rules for French non-resident taxpayers
On 1 January 2019, France implemented the greatest change in its personal income tax system in over 40 years through the creation of a Pay As You Earn withholding system for French tax residents. This new system that applies to the great majority of income earned by French tax residents (i.e. wages & pensions) has
American Belgians risk losing their Belgian bank account in 2020
As recently communicated in the Belgian media, Belgians with the American nationality risk losing their Belgian bank accounts because of the strict application of the U.S. FATCA-legislation. FATCA In application of the FATCA (Foreign Account Tax Compliance Act), which is also applicable in relation to U.S. citizens residing in Belgium, financial institutions outside the U.S.
Finprof announced postponement for submitting the withholding tax return for 2018 until 27 September 2019
Companies and payroll offices can still make corrections on the withholding tax declarations for 2018 up to 27 September 2019. After this final due date, a formal motivated tax claim will be required to amend the withholding tax returns. Also withholding tax exemptions, such as the R&D exemption, exemption for night and shift labor and
Unfavourable treatment of Belgian residents that invest in property abroad: the story continues
On 25 July 2019 the European Commission decided to refer Belgium to the Court of Justice of the EU for its failure to properly implement new rules related to the taxation of rental income of foreign immovable property owned by Belgian tax payers. Last year, on the 12th of April 2018, the European Court of
