Mandatory disclosure rules for intermediaries (DAC 6) – Belgian law adopted by the Chamber of Representatives
On 12 December, the draft bill implementing the EU Council Directive 2018/822/EU of 26 May 2018, also known as “DAC6 Directive”, has been adopted by the Chamber of Representatives. In short, DAC6 provides for the obligation to declare certain cross-border tax arrangements to the Belgian tax authorities. This obligation is incumbent on both taxpayers
Important update – Draft bill impacting 30% EBITDA rule delayed
The draft bill containing various modifications to article 198/1 BITC 92 (i.e. 30% EBITDA rule), has been removed from the agenda of the Finance Commission. Therefore it is unrealistic that these modifications will be adopted before year-end. The modifications included in the draft bill – and which are hence not adopted – include the allocation of
Upcoming due date for electronic filing of BEPS 13 related documents: 31 December 2019
Transfer pricing documentation has become an integral part of the compliance obligations of Belgian entities. The criteria, formalities and deadlines should therefore be followed up closely. Please find below a short summary of the obligations to be complied with by 31 December 2019. What? A Belgian entity part of a multinational group exceeding at least one
Year-end approaching, don’t forget the last advance tax payment on your checklist
As year-end is approaching, Belgian corporate tax payers are preparing to close their financial year and are preparing the start of a new one. If your financial year is ending on 31 December 2019, it may be worthwhile to take into account the last due date for making an advance tax payment (i.e. 20 December
Draft bill involving significant changes on 30% EBITDA rule
On 26 November 2019, a draft bill containing various tax provisions was submitted to the Belgian Chamber of Representatives. Several upcoming changes are related to the interest deductibility limitation (i.e. 30% EBITDA rule) which was introduced in the 2017 corporate income tax reform and applicable as of 1 January 2019 (assessment year 2020). If enacted,
OECD publishes proposal to rewrite international profit allocation rules
The proposal seeks to allocate a greater share of taxing rights to the countries where consumers/users are located – regardless of a business’ physical presence there.
Extension of the due date: 26 September 2019 becomes 10 October 2019!
In the newsflash of 2 September 2019, we informed you that the Belgian companies (and foreign entities having a Belgian establishment) with a financial year that ended between 31 December 2018 and 31 March 2019 (both dates included) should, in principle, file their tax return by 26 September 2019. It has now been confirmed that this
Circular Letter regarding the “grandfathering” provision included in 30% EBITDA rule
On 11 September 2019, the Belgian tax administration published a Circular Letter regarding the grandfathering provision that is included in the recently introduced interest deductibility limitation (i.e. 30% EBITDA rule). The 30% EBITDA rule includes a grandfathering provision for loans that have been issued before 17 June 2016 and that have not been “fundamentally modified”
