Reduced Belgian net asset tax rate soon also for foreign institutional funds
A recent bill of law on various financial and tax provisions aims at adapting the Belgian annual tax on undertakings for collective investment (the Belgian ‘Net Asset Tax’ or ‘NAT’), in particular at the level of the tax rate applicable to foreign institutional funds. As a reminder, the Belgian NAT standard rate is currently 0.0925%.
Belgian Tax on Stock-Exchange Transactions: Action for Annulment before the Constitutional Court
Last week, the Belgian financial press referred to an upcoming action for annulment of the Program Act of 25 December 2016 providing for enlarging the scope of the Belgian tax on stock exchange transactions to transactions carried out through foreign financial intermediaries (see among others L’Echo and De Tijd of 20 June 2017). As per
Belgian Tax on Stock Exchange Transactions: Capitalising v. Distributing Shares
The Finance Minister recently commented on the definition of capitalising v. distributing shares of an investment company in the framework of the Belgian Tax on Stock Exchange Transactions. According to the Minister, the distinction between “distributing shares” and “capitalising shares” for the purposes of the tax on stock exchange transactions corresponds in principle to the
Belgian Fairness Tax: Status Quaestionis (update)
As a recall, by request sent to the Constitutional Court, a Belgian taxpayer company has filed in January 2014 an action for annulment of the so-called Belgian ‘Fairness Tax’. This action comprises four different causes of action each of them including different headings or arguments: European law: freedom of establishment and Parent-Subsidiary Directive; Constitutional law:
Update of the Royal Decree on institutional undertakings for collective investments with variable capital that invest in financial instruments and liquidity
In a nutshell The Ministry of Finance has published a draft Royal Decree (the Draft royal decree) to update the Royal Decree of 7 December 2007 (the Royal Decree of 2007) on the institutional undertakings for collective investment (UCIs) with variable capital that have the sole purpose of collective investment in financial instruments and liquidity.
Ruling Office – rulings delayed due to annulation of French-speaking Board members
On 28 April 2017, the Belgian Council of State annulled the nomination of the French-speaking Board members of the Ruling Office, due to a complaint by a previous Board member. As a result of the judgement, the Ruling Office will not be able to take any formal decisions before the Board members have been replaced.
Belgian Tax on Stock Exchange Transactions: FAQ published
The Belgian tax administration has just published a list of Frequently Asked Questions (FAQ) on the webpage dedicated to the Belgian Tax on Stock Exchange Transactions (French / Dutch). This publication is quite important as it not only covers issues connected to the recent extension of the scope of the tax but also clarifies some ‘pre-existing’
Belgian Tax on Stock Exchange Transactions: deadline extension for the first reporting & details on registration of responsible representative
Yesterday, the Ministry of Finance has issued a statement (FR/NL) confirming that the deadline for foreign intermediaires to report and pay the Belgian TSET on the transactions carried out during the period January 2017 to April 2017 was extended to 30 June 2017. A similar extension has been confirmed for principals residing or established in
