Pillar 2 Advance Tax Payments Are Live!
As announced by the Belgian tax authorities today, starting September 2, 2024, MNO groups and large domestic groups can initiate their advance payments for top-up taxes under Pillar 2, provided they have obtained their Pillar 2 group number following the mandatory notification (P2-CBE-NOT form; click here for more details). The advance payments for the minimum
Pillar 2 notification: Administrative tolerance until 16 September
On 29 May 2024, the Royal Decree was published requiring Belgian entities of a Multinational Group to register with the Crossroads Bank of Enterprises (KBO or BCE) in order to comply with the Pillar 2 compliance formalities within 30 days after the first day of the first year in scope of Pillar 2 (or before
The first Belgian Pillar 2 compliance milestone is out: notification at the Crossroads Bank of Enterprises (KBO/BCE)
Last year, Belgium officially enforced the Pillar 2 rules introducing a minimum tax for multinational companies and large domestic groups further to the publication of the law in the Belgian Official Gazette (Belgisch Staatsblad / Moniteur Belge) in December 2023. To comply with the requirements, groups in scope of the rules have to register at
Advance tax payments: Mind the significant increase of the surcharge
A surcharge is due on the final amount of Belgian corporate income tax payable upon assessment in case a company doesn’t settle its Belgian corporate income taxes due by means of timely advance tax payments during the financial year concerned. Please be advised that the global surcharge will be increased to 9% for assessment year
Exposure Draft proposes disclosure requirements for Pillar 2
In December 2022, the EU Directive on Pillar 2 was published, the OECD public consultation document on the GloBE Information Return was issued and in January 2023, an Exposure Draft was published by the IASB. As a result, the timeframe in which companies subject to Pillar 2 will need to take action has been accelerated
Tax loss carry-back system: administrative circular letter published
On 22 September 2020, the Belgian tax authorities issued a circular letter (administrative guideline) in relation to the tax loss “carry-back” system. Previously, a Royal Decree was published on 1 September 2020 which further clarifies the formalities to be fulfilled in order to apply the loss “carry-back” system. In our newsflash of 2 July 2020,
Carry-back of losses: law published – listen to our podcast
On 1 July 2020, the law on the temporary tax exemption of profits in anticipation of tax losses realized in the COVID-19 period (the so-called tax loss “carry-back” system) was published in the Belgian Official Gazette. The new law aims to strengthen the liquidity and solvency of companies that were in a sound condition but
Belgian corporate tax reform (substantively) enacted
On 22 December 2017, the Belgian Parliament has approved the Belgian tax reform bill. This bill has been published in the Belgian Official Gazette on 29 December 2017 and was signed by the Belgian King on 25 December 2017. Consequently, the Belgian tax reform has been substantively enacted for IFRS (IAS 12) on 22 December 2017
