Tax reform announced in the Brussels Region
The Brussels Capital Region has recently presented its budget for 2016. Amongst others, a tax reform was announced, which will be implemented partially in 2016 and partially in 2017. In 2016, the lump-sum regional tax of EUR 89 and the additional levy of 1% on the federal personal income taxes will be abolished. Real estate
Belgium: new agreement on Tax Shift
On 10 October 2015, the Belgian federal government reached a new agreement on the so-called “tax shift”. The tax shift is the shift from tax on labour to other taxes. The objectives of the tax shift are: To respect the budgetary engagements; A revival of the economy by creating more jobs; Reducing labour taxes to
Cayman tax enacted – List of legal entities published
With the Program Law of 10 August 2015, the so-called “Cayman tax” has been implemented. Under this regime, certain legal constructions are treated as transparent for Belgian tax purposes, implying that income generated by them is taxable or their founders or beneficiaries. The Cayman tax is in principle applicable to income that is obtained, attributed or paid
Belgium: agreement on tax shift
On 23 July 2015, the Belgian federal government reached an agreement on the so-called “tax shift”. The tax shift is mainly aimed at i) reducing the tax burden on labour, ii) improving the competitiveness of Belgian companies and iii) creating more jobs. It involves the introduction of a number of new tax measures that may impact
Cayman Tax: tax transparency for ‘legal constructions’
Currently, a bill of law is discussed at the level of the Belgian federal government concerning the so-called Cayman Tax. In principle, the new rule would be applicable as from assessment year 2016 (i.e. income collected during calendar year 2015). The Cayman Tax is a tax on certain income that is derived, through legal constructions,
Budgetary control in Belgium: New tax measures announced
On 30 March 2015, the Belgian government announced new Belgian tax measures in the framework of the budgetary control. They concern: Fight against fraud The fight against tax fraud will be pursued. The estimated net revenues are MEUR 160. Cayman tax: applicable as from calendar year 2015 The “Cayman tax” would already be applicable as from calendar year
Impact of announced tax measures on Transfer Pricing
As previously announced, a number of new tax measures has been announced in the framework of the Belgian government formation and the budget for 2015. Some of these will also have an impact on transfer pricing: The plan is to invest heavily in data mining tools for case selection purposes. These are likely to be used for
New Belgian tax measures announced
A number of new tax measures have been announced in the framework of the Belgian government formation and the budget for 2015, on which an agreement was reached in the second week of October 2014. These measures have an impact on: – entities – companies – corporate income tax; – individuals – personal income tax;
