Draft Belgian Qualified Domestic Minimum Top-up Tax Return published
On Friday 18 October 2024, the Belgian tax authorities published the first version of the draft Belgian (Qualified) Domestic Minimum Top-up Tax return (also referred to as QDMTT return or QDMTT form) to be submitted by Belgian entities subject to the Belgian law introducing a global minimum tax (or Pillar 2). What is Pillar 2?
How key interest rate cuts and stabilising inflation might impact your transfer pricing policy
The past few years the financial markets have been characterised by a significant increase in interest rates battling the surge in inflation throughout the world. Since the arm’s length principle requires intercompany transactions to appropriately reflect current market conditions, these exogenous elements have led companies to update their financing policies and more specifically their transfer
Partial wage withholding tax exemption for shift work: Royal Decree introduced to solve opaque application by temporary employment agencies
To ensure a level-playing field, companies recognized for temporary employment were already equated with companies where shift work is carried out with respect to the withholding tax exemption for night and shift work. To apply the exemption, in addition to the basic conditions, they require prior consent from the client-user that employs the temporary workers.
Pillar 2 Advance Tax Payments Are Live!
As announced by the Belgian tax authorities today, starting September 2, 2024, MNO groups and large domestic groups can initiate their advance payments for top-up taxes under Pillar 2, provided they have obtained their Pillar 2 group number following the mandatory notification (P2-CBE-NOT form; click here for more details). The advance payments for the minimum
Super Nota of Bart De Wever – What was on the table?
In Bart De Wever’s “Super Nota,” the proposed tax reform introduces substantial changes to the existing tax system. This article summarises the tax measures that were under consideration and might be used as a starting point when negotiations start again. As political discussions are not final, the information presented here may be subject to change
Tax Bites Podcast – What’s going on at the UN? The draft Terms of Reference for negotiating a Framework Convention on International Tax Cooperation
In this episode, we share our first impressions on the ‘Zero Draft’ Terms of Reference (ToR) for a UN Framework Convention on International Tax Cooperation released by the United Nations (UN) on 7 June 2024. Furthermore, we provide a brief overview of other important international and European tax developments. Tune in to get our first take on
Royal Decree on Public Country by Country Reporting published
On 6 June 2024, the Royal Decree on public country by country reporting (PCbCR) was published in the Belgian official gazette (See also our earlier messages on the introduction of public country by country reporting in Belgium of 4 June 2021 and 17 November 2023). This Royal Decree modifies the Royal Decree of 29 April
Short-term deposits volumes are peaking in the Euro Area. How can an internal cash pool play a role?
Recent data published by the European Central Bank (“ECB”) indicates that the volume of short-term deposits made by non-financial companies (“NFCs”) in the euro area is reaching its peak. Similar trends are observed from the intra-group perspective, when international groups opt for an internal cash pool as one of the cash management solutions. In order
