Belgian Act on the exchange of tax rulings and country-by-country reports formally adopted
On 11 August 2017, a Bill was published in the Belgian Official Gazette implementing into Belgian tax law several EU Directives (see previous coverage) regarding the automatic and compulsory exchange of information in the field of taxation. The Bill formally transposes (i) Directive 2015/2376/EU, the so-called DAC 3, and (ii) part of the Directive 2016/881/EU, the so-called DAC
Protocol to Belgium-Switzerland Double Tax Treaty enters into force
According to the Swiss Federal Department of Finance the additional protocol to the Double Tax Treaty (‘DTT’) between Belgium and Switzerland, that has been signed on April 10, 2014 has entered into force as of July 19, 2017 and will generally apply as from January 2018. In general terms, the protocol brings the current DTT,
Belgian tax reform: impact on M&A
The Belgian government has reached an agreement on an important tax, economic and social reform package. The contemplated changes aim to boost the Belgian economy through an investment friendly climate, but could also significantly impact deal structuring and due diligence processes. The highlights of the contemplated tax reform are the gradual reduction of the Belgian corporate
Tax reform update: Company cars once more in the loop!
The corporate tax reform that was announced last week as part of the reform package aims – once more – at strengthening the rules on the taxation of company cars for Belgian companies. The following update highlights some of the measures in this respect. Most of these measures should only apply as from 2020, with
EU Commission requires Belgium and France to abolish tax exemptions for ports
Belgium and France must abolish the corporate tax exemptions for their ports by the end of 2017 and ensure that all ports are subject to the normally applicable rules starting from 1 January 2018. Read the newsalert here.
OECD released report on Neutralising the Effects of Branch Mismatch Arrangements (BEPS Action 2)
On 27 July 2017, the OECD released the report on Neutralising the Effects of Branch Mismatch Arrangements (BEPS Action 2). This report sets out recommendations for branch mismatch rules that would bring the treatment of these structures into line with the treatment of hybrid mismatch arrangements as set out in the 2015 Report on Neutralising the Effects
Belgian tax reform reduces corporate rate to 25% and introduces fiscal consolidation
On 26 July 2017, the federal government reached an agreement on an important tax, economic and social reform package. A significant gradual reduction in the corporate income tax rate to 25% in 2020 and fiscal consolidation are key components of the package. The agreement preserves the notional interest deduction. The tax reform is built around
Belgium decides to reduce corporate tax rate from 34% to 25%
Remark: The following announced measures will have to be formalised in draft legislation which should only be available as from September/October. Only then will full details be known. On 26 July 2017, the Federal government reached an agreement on an important corporate tax reform, significantly reducing the corporate tax rate. More details will follow below.
