Benefit in kind – Private use of a company car: updated formula for 2018
The new reference CO2 emission for calculating the taxable benefit in kind for the private use of a company car in the hands of company directors and employees has been published on 19 December 2017 (Royal Decree of 13 December 2017). For income year 2018, the following CO2 emission will be applied to the above
Update – New rules regarding the lump-sum value for PC, laptop, smartphone, tablet & internet put at the disposal via the employer – Practice note
In our Newsflashes of 26 October 2017 and 13 November 2017, we already made reference to new upcoming lump sum values. These anticipated changes have been introduced by the Royal Decree of 2 November 2017, which was published in the Official Gazette on 13 November 2017. The Belgian tax authorities have published a Practice Note
Update – New rules regarding the lump-sum value for PC, laptop, smartphone, tablet & internet put at the disposal via the employer – Royal decree enacted
In our Newsflash of 26 October 2017, we already made reference to new upcoming lump sum values. These anticipated changes have now been introduced by the Royal Decree of 2 November 2017, which was published in the Official Gazette on 13 November 2017. As from 1 January 2018, the following lump-sum valuations will be applicable
New rules announced regarding the lump-sum value for PC, laptop, smartphone, tablet & internet put at the disposal via the employer
Recently, the Minister of Finance announced new rules for valuation of certain benefits in kind (pc, laptop, smartphone, tablet and internet) and this as from 1 January 2018. As a result, the personal income taxes & social security rules are simplified & aligned and (lump-sum) values are reduced to be more realistic. If an employer
Belgian Tax reform: Individuals – Reduction of tax benefits
In the scope of the agreement reached during the summer, the federal government announced several new tax measures. From a personal tax point of view, one of the changes foreseen is to reduce the tax benefits granted to people for whom the taxable period does not correspond to a full calendar year. In such case,
Business travel within Belgium: new rules for lump-sum cost reimbursements
General principle An employer can reimburse employees for business related expenses. In principle, the reimbursement of genuine business expenses is not treated as taxable income in the hands of the employees and company directors, as it concerns costs proper to the employer or company. In practice, business expenses are often reimbursed via detailed expense reports
New daily lump-sum allowances list as from 1 October 2017
An employer/company can pay daily lump-sum allowances for foreign business travel to employees or company directors in order to reimburse certain expenses. If the lump-sum reimbursements for short-term business trips abroad (not exceeding 30 calendar days) are determined on the basis of the list of allowances paid by the Federal Public Department of Foreign Affairs
Belgian tax reform: Personal income tax – profit participation premium
Remark: the following announced measure will have to be formalised in draft legislation which should only be available as from September/October. Only then will full details be known. As already mentioned in the PwC Newsflash of 4 August, the federal government reached an agreement on 26 July 2017 on important tax, economic and social reform
