Tax return deadline for income year 2013 (assessment year 2014) – Corporates, legal / non-resident entities
The Belgian tax authority has communicated the deadlines for the different tax returns assessment year 2014 for corporates, legal entities and non-resident entities. An overview of these deadlines can be found below. For tax residents and non-residents with an accounting year ending on 31 December 2013: Corporate income tax return Belgian tax residents 30 September 2014 Income
Parliamentary question clarifies whether (for direct tax purposes) “small tools, small equipment and stationary” should be considered as an investment or an immediate expense.
Recently, the minister of Finance answered a Parliamentary question regarding “small equipment, small tools and stationary”, i.e. whether for direct tax purposes, “small equipment, small tools and stationary” should not be considered as an investment and can therefore be directly expensed? According to the Minister of Finance, and based on accounting law, the company should define the valuation rules in
The OECD’s public consultation on transfer pricing documentation and country-by-country reporting on 19 May
The OECD will hold a public consultation on the discussion draft on transfer pricing documentation and country-by-country reporting on 19 May 2014 at the OECD Conference Centre in Paris, France. The public consultation will be broadcast live on the Internet and can be accessed on line. No advance registration will be required for Internet access. Persons wishing
BASC issues draft advice on the Belgian GAAP treatment of the Fairness Tax
The Belgian Accounting Standards Commission (BASC) was asked to provide guidance with respect to the accounting treatment of the Fairness Tax. The Fairness Tax is a separate tax of 5.15% (5% increased by 3% crisis surtax). This separate tax applies to a Belgian company (non SME) if: (i) the company has distributed dividends with respect
PwC comments on the Discussion Draft on Transfer Pricing Comparability Data and Developing Countries
PwC has provided the OECD with its comments on the ‘discussion draft on transfer pricing comparability data and developing countries’ on 11 April 2014. PwC agrees with the OECD in that comparability is at the heart of transfer pricing, and that the application of the arm’s length principle often relies on a comparison of the prices charged
Practice note issued in relation to Belgian fairness tax
As from AY14 (which are financial years ending 31 December 2013 or later), a so called ‘fairness tax’ of 5.15% is levied on certain dividend distributions made by large Belgian companies or by foreign companies with a Belgian permanent establishment, when the underlying profits have not been effectively taxed due to tax losses or Notional
Company-provided accommodation – New practice note
Where immovable property is (fully or partly) put at the disposal of an employee or company director by an employer/company free of charge, the individual is deemed to be in receipt of a taxable benefit in kind. This benefit is generally determined on a lump sum basis, taking into account the deemed rental income. Clarification
Reporting requirement legal constructions – Royal Decree published
On 2 April 2014, a Royal Decree was published, listing up the legal constructions which are in scope of the recently introduced reporting requirement. The Act of Miscellaneous provisions of 30 July 2013 introduced a reporting obligation for legal constructions (trusts, foundations, partnerships, certain low-taxed entities, etc.) set-up by private persons. According to the Act,
