Company provided housing: anticipated change in tax law
When a company puts a house or an apartment at the disposal of one of its directors or employees, a taxable benefit in kind arises in the hands of the beneficiary. Typically, the calculation of this benefit in kind depends on whether the housing is provided by an individual (100/60 x indexed cadastral income) or
Mobility budget – Agreement within the Council of Ministers
In March 2018, the government reached an agreement on the principles of the mobility budget. Meanwhile, this agreement was formed into a preliminary draft of law, which was approved by the Council of Ministers on 26 July 2018. The mobility budget will co-exist with the recently introduced mobility allowance. Both measures aim to reduce the
Summer deal advances the implementation of the Belgian EBITDA rule by one year
In the context of its comprehensive political agreement reached last week, the Belgian Government decided to advance the implementation of the new interest limitation rule from 2020 to 2019 (i.e. financial years starting on or after 1 January 2019). The new Belgian interest limitation rule is the transposition of the EBITDA-based interest limitation rules included by
Expected changes in employers’ tax reporting obligations of some equity incentives
When foreign headquartered companies grant stock options to employees of their Belgian subsidiaries, such option grants, where taxable at grant, are ALWAYS reportable by the Belgian employing subsidiary on the employee’s individual statement 281.10. This reporting obligation is due irrespective of whether such subsidiary is involved in the option grant or expenses the stock option
Last steps in the Belgian corporate tax reform taken before the summer recess
Just before the holiday period, the Belgian Chamber adopted the final text of the corporate tax reform that was initiated last year. As expected, a new Act amends and supplements the Corporate Income Tax Reform Act and the Program Act, both published end of December 2017. Some of the very last changes introduce new anti-abuse
Wage cost reduction for shift labour in the construction sector
The Act of 26 March 2018 has introduced a specific regime for wage withholding tax exemption for shift labour in the construction sector. The legislation as existing in article 275/5 BITC regarding shift labour has thus been amended with an additional definition for shift labour in the construction sector. The Belgian tax administration issued on
Dual Pension Savings in Belgium – Practice Note
A dual system for pension savings has been introduced in Belgium by the law of 26 March 2018 (Official Gazette of 30 March 2018). Recently, the Belgian tax authorities issued a practice note (2018/C/72) which provides clarification and specific examples in this respect. The existing system for pension savings (pensioensparen / épargne-pension) is well known in
Want to avoid surcharges? Making an appropriate amount of advance tax payment for Q 1 will help!
Companies/branches can make a first advance tax payment for the ongoing financial year by 10 April 2018 (in case of FY per 31/12). For assessment year 2019, the global surcharge has increased to 6.75% (compared to 2.25% for assessment year 2018). This surcharge will always be due. The prior year tolerance – relating to the
