Belgian government agrees on federal budget: an overview of what you should know
After intense negotiations, the Belgian government reached an agreement on the Belgian federal budget. Addressing the ongoing energy crisis, limiting the budgetary deficit and stimulating employment are some of the key topics that have shaped the agreement. It also contains several important tax measures an overview below: Temporary Belgian minimum tax: as a result of
PwC’s Workforce Podcast – The 2022 Labour Deal
The 2022 Labour Deal The Chamber of Representatives has voted the Belgian government’s 2022 Labour Deal into law: a set of labour market reforms that introduce increased flexibility and redeployment measures. The goal of these reforms is twofold: improve employees’ work-life balance and increase the employment rate in Belgium to 80% by 2030. Listen to
Belgian Council of Ministers approves draft legislation implementing DAC 7 into Belgium law
On Friday 23 September 2022, the Council of Ministers approved preliminary draft legislation introducing new provisions and technical amendments for administrative cooperation between European member states in the field of taxation. The aim of the proposal is to implement EU Directive 2021/514 on administrative cooperation in the field of taxation, better known as “DAC 7”,
Major changes to Belgian tax procedures in the pipeline
Reports of important amendments to the Belgian tax procedures appeared in the press, prior to the parliament’s summer recess. This newsflash summarises the main aspects and current status of the proposed measures. Extension of investigation, assessment and retention periods The draft law on various tax and financial provisions contains substantial changes to the investigation, assessment
Early indications of the direction of travel for broad tax reform
On Tuesday 5 July 2022, Professor Delanote of the University of Ghent published his vision note regarding the broad tax reform. The note includes recommendations for potential amendments in the scope of a broader tax reform. The note was drafted at the request of several ministers, however, there is no consensus among the Federal and/or
The Luxembourg Reserved Alternative Investment Fund (RAIF) – Updated
Luxembourg RAIFs are increasingly used in order to provide debt funding for acquisitions. Until recently it was uncertain how interest paid by a Belgian company to a RAIF is to be treated from a Belgian withholding tax perspective. Two recent decisions of the Belgian Supreme Court provide more clarity. The RAIF Regime In 2016, Luxembourg
New provisions grant judicial police powers to Belgian tax inspectors to combat fraud
The law of 17 March 2022 regarding various fiscal provisions to combat fraud has recently been published and adopted. It includes new tax provisions that remove the existing legal obstacles for officials of the Belgian tax administration to participate in judicial investigations. This law provides for a new legal framework that allows designated tax authority officials to
Belgian Minister of Finance confirms intention to mandate B2B e-invoicing
In his policy note, the Belgian Minister of Finance, Mr Van Peteghem, confirmed the intention to gradually make electronic invoicing mandatory for businesses-to-business (B2B) transactions. The measure is aimed at reducing the Belgian VAT gap, which is the difference between the expected VAT revenues and the VAT revenues that are effectively collected. For the year
