Negative ruling highlights pitfalls of pre-deal carve-outs through partial demergers
In a recent decision, the Belgian ruling office rejected a pre-deal carve-out of real estate through a tax neutral partial demerger followed by a tax exempt transfer of shares of the operating company. Though the ruling does not particularly divulge novel views, it has the merit of highlighting common pitfalls related to these type of
The UBO-register: time to take action
As already discussed in our previous newsflashes (20 August 2018 & 28 September 2018), a register regarding the Ultimate Beneficial Owners (‘UBO’s’) of legal entities was introduced in Belgium. In principle, the information on the UBO’s needed to be registered by 30 November 2018. However, an extension of the deadline till 31 March 2019 was
15 January 2019 – Brexit Update – Brexit deal voted down!
Today, the UK’s House of Commons voted on Mrs. May’s Brexit deal. As widely expected, the Brexit deal was voted down. Although it’s still unclear what’ll happen next, the voting down of the deal requires that Mrs. May come back to the House of Commons with an alternative motion by next Monday, opening a door
Belgian tax reform – Recap of corporate income tax measures applicable from 1 January 2019
A new year typically entails new tax measures. Below you will find a brief overview of some important Belgian corporate income tax measures that have entered into force, or are expected to enter into force, in 2019 (as part of the second phase of the Belgian tax reform). For a detailed overview of the measures,
Foreign real estate funds eligible for Dutch FBI tax exemption
On 23 November 2018, the Lower Court in Breda, the Netherlands, decided that a German Open-Ended Public Fund (represented by PwC) was entitled to the FBI regime providing, among others, for a 0% Corporate Income Tax (CIT) rate on Dutch source real estate income. The Court also ruled that the portfolio investment test (one of
Upcoming due date for electronic filing of BEPS 13 related documents: extended to 28 February 2019
With our newsflash of 12 November 2018 we drew your attention to the upcoming deadline for electronic filing of BEPS 13 related documents. The form 275 MF (and potentially the Master file) in relation to the financial year ended 31 December 2017 and the notification of the Country-by-Country reporting obligations in relation to the financial
New Royal Decree published on legal constructions in 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
Upcoming due date for electronic filing of BEPS 13 related documents: 31 December 2018
All BEPS 13 related documents will, in principle, have to be filed electronically via the MyMinfinPro-website of the Belgian tax authorities (without exceptions). What? A Belgian entity of a multinational group exceeding at least one of the following Belgian GAAP based criteria (during the financial year preceding the financial year most recently closed) needs to
