European Commission adopts temporary State aid framework enabling EU Member States to support their economies during the COVID-19 crisis
The European Commission adopted a temporary framework setting out the possibilities for EU Member States to support the economy during the COVID-19 crisis on 19 March 2020 under the European State aid rules. Such framework set outs the possibilities under which EU Member States can enact legislation and take actions to provide state support to
COVID-19: a multi country overview of supportive measures
The continued spread of the coronavirus (COVID-19) is forcing governments to take drastic measures to take back control over the human impact of COVID-19 and reduce the number of contaminations. There is no doubt that this pandemic is equally having a detrimental impact on the global economy. Throughout the world, countries take a multitude of
Update – Belgian tax authorities publish additional measures to mitigate the impact of the COVID-19 crisis
After the introduction of the first wave of supportive financial measures, the government has now decided to take additional measures in order to further mitigate the financial impact of the COVID-19 pandemic. In particular, the authorities are now also publishing a number of specific tax measures. With these measures, companies get an automatic extension to
Coronavirus: support for your business in times of unprecedented challenges
The spread of the coronavirus (COVID-19) is forcing governments around the world, including in Belgium, to take drastic measures to take back control over the human impact of Covid-19. Although required, these countermeasures are causing major disruption for individuals, families, businesses and the global economy in general. Aware of the significant impact of the pandemic
Advance tax payments and recently announced measures from the Belgian government
Unless a company pays its Belgian corporate income taxes due by means of timely advance tax payments during the financial year concerned, a surcharge is due on the final amount of Belgian corporate income tax due upon assessment. If advance tax payments are made, credits – which can be offset against the surcharge – are
Long awaited Transfer Pricing Circular published
On 25 February 2020, the Belgian tax administration published Circular Letter 2020/C/35 on the 2017 version of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations (2017 OECD TPG). This practice note is available in Dutch and French. The circular is the final version of a draft circular letter originally published by the
Important changes regarding the Polish DAC6 Mandatory Disclosure Rules
Our Polish DAC 6 experts informed us that the Polish parliament is processing a draft act amending the mandatory disclosure rules (MDR) as implemented following the European DAC6 Directive. The draft aims to introduce important changes to MDR reporting obligations, in particular relating to cross-border tax schemes. Highlights The Minister of Finance stated that the
Tax Authorities have issued Circular Letter regarding the Group Contribution Regime
On 13 February 2020, a circular letter on the group contribution regime has been published (Dutch and French version). The group contribution regime, applicable as of financial year 2019 (assessment year 2020), enables Belgian companies and Belgian branches of entities located in the EER to transfer taxable profits to other affiliated Belgian companies/branches with the
