Belgian Guidance Notes on CRS
On 14 March 2017, the Federal Public Department of Finance has released the Belgian Guidance Notes on the Common Reporting Standard (CRS) which contain valuable clarifications on the practical application of the CRS and of the Directive on Administrative Cooperation (DAC). This document can be consulted here. Additional information about the implementation of the CRS
Belgium – New flexible deadline for the first FATCA reporting
On 18 January 2016, the Belgian Federal Public Service of Finance (FPS Finance) announced that, following consultation with the financial sector, it will apply an administrative tolerance as regards the introduction of the FATCA files relating to income year 2014. This information has to be communicated to the FPS Finance at the latest on 15
FATCA & CRS – Belgian bill – Flexible application of 10 days deadline
On 15 December 2015, the Belgian Federal Public Service of Finance (“FPS Finance”) issued a communication with respect to the bill voted on 10 December 2015 implementing (amongst other things) Directive 2014/107/EU (amending Directive 2011/16/EU as regards automatic exchange of information in the field of taxation) and the US-Belgium Intergovernmental Agreement of 23 April 2014 (on
FATCA & CRS – Belgian bill adopted
On 10 December 2015, the Belgian Parliament voted – in plenary session – the bill “on the communication of information relating to financial accounts, by Belgian financial institutions and the Federal Public Authority of Finance, within the framework of an automatic exchange of information at international level for tax purposes”. The purpose of this new
The OECD issues new guidance on automatic exchange of information
On 7 August 2015, the OECD released three reports to help jurisdictions and financial institutions implement the global Standard for automatic exchange of financial account information (CRS). The first report is a handbook for implementing CRS (CRS Handbook). In particular, it promotes the consistent use of optional provisions, identifies areas for alignment with FATCA and
