New lump-sum amount for reimbursement of business use of private car
Employees using a privately-owned car for business purposes can now be reimbursed a lump-sum amount of EUR 0,3653 per kilometer. Costs that an employee incurs when using a privately-owned car for business purposes can be reimbursed by the employer free of income tax and exempt from social security contributions. Repayment can be made on a
Filing of your statutory financial statements – due date of 31 July 2019 is approaching!
Statutory financial statements As you are probably aware, Belgian companies should deposit their statutory financial statements annually with the National Bank of Belgium. Filing should be done within 30 days after the financial statements have been approved by the Annual General Meeting of Shareholders and certainly not later than 7 months after the end of
Newshub: Belgian Tax Authorities announce some of their focus areas for 2019 tax audits
The Belgian Tax Authorities have recently announced some of their focus areas for 2019 for tax audits. This early warning allows both individual taxpayers and enterprises to ensure compliance with their Belgian tax obligations. Enterprises can expect to face more scrutiny in relation to the following subjects: Companies who do not fulfill all the conditions
Belgium implements new EU Tax Dispute Resolution Directive
On 2 May 2019, Belgium completed the implementation process of the Directive on tax dispute resolution mechanisms in the EU (Council Directive 2017/1852 of 10 October 2017). This enhanced procedure for resolving cross-border direct tax disputes puts taxpayer rights at the forefront, has a broader scope of application as well as an obligation for the
Belgian Ratification of the MLI: a Game Changer in the International Tax Field
On 6 May 2019, the legislative documents implementing the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (also known as the MLI) was finally approved by all 6 legislative authorities in Belgium. The Belgian law ratified the full application of the MLI and its Explanatory Note, the reservations and notifications made by
Update on submission of CbCR Notification (i.e. form 275 CBC NOT)
On 2 May 2019, a law was approved including an update on the notification obligation of each Belgian group entity of a multinational group with regard to filing a country-by-country report. The law was published in the Belgian official gazette on 15 May 2019. The above notification obligation, which is included in article 321/3 of
New Royal Decree published on legal constructions outside EEA falling in the scope of the Cayman Tax
Cayman Tax The so-called ‘Cayman Tax’, introduced as from 1 January 2015, is a taxation regime in the Belgian income tax code that introduces a tax transparency of certain legal constructions that have been set up by Belgian private individual tax residents. The income of certain qualifying entities will be taxed directly in the hands
The preparation of the corporate income tax return and the local form – general due date of 26 September 2019!
While finalizing the statutory financial statements, let’s also kick-off with the preparation of the corporate income tax return and the local form – general due date of 26 September 2019! Belgian companies (and non-resident companies with a Belgian establishment) have the yearly obligation to file a Belgian corporate income tax return within the statutory deadline. In
