Belgian Federal Government approves law introducing a minimum tax for multinational companies (Pillar 2)
Yesterday, on 14 December 2023, Belgium approved the final law introducing a minimum tax for multinational companies and large domestic groups. This is the Belgian transposition of Council Directive (EU) 2022/2523 of 15 December 2022 ensuring a global minimum level of taxation for groups of multinational enterprises and large domestic groups in the European Union.
Belgium and The Netherlands agree on employees working from their home location
On November 23, 2023, the Competent Authorities (CA) of Belgium and The Netherlands signed an agreement* clarifying when a permanent establishment (PE) exists for the employer in the other country if employees are working from their home location in that other country. This agreement provides welcome additional guidance on the cases in which an employee
Expected change in Belgian CFC regime
A draft law was introduced into parliament to change the Belgian CFC regime, which was introduced as part of the EU Anti-Tax Avoidance Directive (hereafter “ATAD directive”) in 2017. The CFC regime Belgium introduced back in 2017 taxed non-distributed income arising from non-genuine arrangements which have been put in place for the essential purpose of
Significant changes expected to the Belgian investment deduction regime
As previously announced (see also our newsflash of 10 October 2023), the Belgian Federal Government reached an agreement on the federal budget in the first half of October 2023. One of the important tax measures resulting from this budget agreement relates to specific changes to the Belgian investment deduction regime, a measure to support the
Belgian government agrees on federal budget: what is the impact?
On 9 October, the Belgian Federal government reached an agreement on the federal budget. The current budget round was an important one, as the economic climate is deteriorating and this has an impact on the budget of the government. This budget needed to find additional funds. The total effort is 1.7 bln EUR, of which
PwC’s Pillar Two Country Tracker
PwC has recently launched the Pillar Two Country Tracker, a tool designed to track the status of the implementation of Pillar Two around the globe. Specifically, Pillar Two focuses on the introduction of a global minimum Effective Tax Rate (ETR) applicable to multinational groups with consolidated revenue of over €750 million. Such groups will be
Belgium agrees on core principles for implementation of the Global Minimum Tax (GloBE/Pillar 2) for MNE’s and some additional tax measures
The Belgian government reached an agreement on the Federal budget. After long discussions within the government, a number of measures have been decided that will reduce expenditures and measures that will increase revenue. One of the key elements in the budget decision was the decision on the core principles of the introduction of Pillar 2
The Belgian Minister of Finance proposes long awaited tax reform.
Finance Minister Vincent Van Peteghem launched his proposal for a first phase in the Belgian tax reform. This proposal was already announced several months ago and is now being put formally on the table. What we are looking at today is still a proposal that will now go into the legislative process. The aim is
