VAT: Practice note – Retention of documents
The Belgian Income Tax and VAT authorities recently published a combined practice note commenting on the alignment of the Income Tax and VAT procedures as regards the retention of documents. What is new for VAT is the fact that the delivery of a receipt in case of retention of documents by the VAT authorities is
VAT : Opening right to deduct VAT for free supplies
The Belgian VAT Administration recently published a new administrative decision allowing a full VAT deduction for the provision for free of a kitchen infrastructure and some related periodical costs to a caterer provided that the caterer does not use the free infrastructure for supplies of goods and services to another person from whom he received the
Court of Appeal ruling on travel services provision may affect your VAT position
The Brussels Court of Appeal recently ruled that non-travel agent businesses may be classified as travel agents for VAT purposes if a substantial part of the services they perform relate to travel and accomodation. This classification as a travel agent would mean that the input VAT related to the travel agency activities would not in principle be deductible. Companies should therefore assess
Foreign EU VAT refunds for 2013 require action
Businesses that incurred VAT on business expenditure in the EU may be able to recover this VAT provided they apply the right procedures and comply with the deadlines of 30 June 2014 for non-EU businesses and 30 September 2014 for EU businesses. For non-EU businesses, claims must be submitted with the relevant local EU tax authority
Real Estate – VAT : Administration denounces artificial split of transactions in important renovation projects – application of 6% reduced VAT rate and more at stake !
For years, certain promotors have been marketing reconstruction or heavy renovation projects at a 6% reduced VAT rate. With its decision of 13 May 2014, VAT administration now clearly denounces legal constructions that have been devised with the [sole] purpose of attaining a reduced VAT rate and which consist in the artificial split of a
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
Belgian VAT authorities publish new VAT practice note
The Belgian VAT administration has recently published a new VAT practice note n°14 /2014 dated 4 April 2014 (E.T. 120.000) on (electronic) invoicing. Said VAT practice note is retroactively applicable as from 1 January 2013. The VAT practice note stresses the importance for businesses of implementing appropriate business controls in order to guarantee the authenticity of origin, the integrity
PwC announces publication of study on EU Customs Union
We are pleased to inform you that PwC has conducted a study for DG TAXUD on the Evaluation of the Customs Union during the period 2012 – 2013. The study includes an analysis and evaluation of the EU Customs Union based on the data PwC collected from business stakeholders and public authorities (customs and other
