Belgian tax reform: impact on the FS industry
On 26 July 2017, the Belgian federal government reached an agreement on an important corporate tax reform. The contemplated changes go far beyond corporate tax as they also have a direct impact on the taxation of financial products, hence on the FS industry in general. Wealth Management Belgian Tax on Savings Income (art. 19bis ITC)
Belgian tax reform reduces corporate rate to 25% and introduces fiscal consolidation
On 26 July 2017, the federal government reached an agreement on an important tax, economic and social reform package. A significant gradual reduction in the corporate income tax rate to 25% in 2020 and fiscal consolidation are key components of the package. The agreement preserves the notional interest deduction. The tax reform is built around
Belgian tax reform: impact on the real estate industry
Yesterday, the Belgian government reached an agreement on several tax measures, including a corporate tax reform and the introduction of an option to apply VAT on immovable letting. Although these measures will be developed further in detail in the coming months, it is already certain they will have an important impact on the Belgian real
Belgium decides to reduce corporate tax rate from 34% to 25%
Remark: The following announced measures will have to be formalised in draft legislation which should only be available as from September/October. Only then will full details be known. On 26 July 2017, the Federal government reached an agreement on an important corporate tax reform, significantly reducing the corporate tax rate. More details will follow below.
Federal government reaches agreement on “Cash for Car”
Recently, an agreement was reached by the federal government regarding the introduction of a mobility budget, as an alternative for company cars. As of 1 January 2018 it would become possible for employees (who already use a company car) to exchange their current company car for a cash compensation, provided that both parties (employer and
Update – New upcoming tax measures – Program Act enacted
In our Newsflash of 7 November 2016 we already made reference to new upcoming tax measures. Certain of these anticipated changes have now been introduced by the Program Act of 25 December 2016, which was published in the Official Gazette on 29 December 2016. From a personal income tax perspective, the above Program Act introduces
Company cars, internal capital gains, withholding tax, … What are the new tax measures for the year end?
Last October, the Federal Government reached an agreement on the budget and, in this framework, on several tax measures. The most important ones relate to the taxation of company cars and the end of the tax-free step-up in the case of a contribution in capital of shares by an individual (commonly referred to as “internal
Draft law on the new Belgian Innovation Income Deduction
Today, the Council of Ministers approved the new Belgian Innovation Income Deduction (IID) which will be BEPS-compliant and will replace the abolished Patent Income Deduction. The draft law is now subject to recommendations from the Council of State. The important takeaways of the IID are: The taxable result of a Belgian company or branch will
