News articles written by Olivier Hermand

New Administrative Circular regarding the Belgian Tax on Savings Income – Asset Test and BTIS computation in case of funds of funds

11 June 2021

On June 10, 2021, the Belgian tax administration has issued the Administrative Circular number 2021/C/56 regarding the Belgian Tax on Savings Income (“BTSI” hereafter – article 19bis of the Belgian Income Tax Code). Circulaire 2021/C/56 – French Circulaire 2021/C/56 – Dutch The main objective of the above-mentioned circular is to highlight methodological points regarding the

New Tax on Securities Accounts: Exemptions for the Financial Sector

13 January 2021

On 5 January 2021, the Government published its bill introducing an annual tax on securities accounts in the Code of Various Duties and Taxes. As a recall, the tax is an annual tax on the holding of a securities account, levied at the rate of 0.15% on the average value of the account in excess

Circular 2020/C/96 on the taxable basis of foreign movable income

14 July 2020

On July 9, 2020, the Belgian Tax Administration published the Circular 2020/C/96 with respect to the determination of taxable income in case of collection of foreign movable income. It confirms that, in case of collection of a foreign movable income, the taxable amount is determined by deducting the foreign tax effectively withheld from the foreign

Administrative circular on spin-off transactions

19 May 2020

On April 20th, 2020, the Belgian Tax Administration issued the  circular 2020/C/55 further detailing the tax treatment of spin-off transactions according to article 264, first paragraph, 4° of the BITC 92. Context As a reminder, the so-called spin-off transactions are not demerger transactions nor transactions assimilated to a demerger, as defined by article 2, §1,

New measures for open-ended public undertakings for collective investment against the consequences of the COVID-19 epidemic

29 April 2020

Summary The Royal Decree of 22 April 2020 aims to protect open-ended public undertakings for collective investment (“UCIs”) against the consequences of the COVID-19 epidemic and in particular protect the liquidity of such UCIs. UCIs that are confronted with redemption requests of their units have to sell, often at unfavourable prices, positions in their portfolios