Publication of updated Q&A on AIFMD.
The European Securities and Markets Authority has published an updated Q&A on the application of AIFMD. On 21 July 2015, the European Securities and Markets Authority (ESMA) published an updated version of its questions and answers paper (Q&A) on the application of the Directive 2011/61/EU of the European Parliament and of the Council of 8 June
Delay in ESMA’s opinion and advice on Article 67 (1) AIFMD.
ESMA has announced that its final opinion and advice on passporting of EU AIFMs and national private placement regimes, as well as on the extension of the AIFMD passport to non-EU AIFMs and non-EU AIFs, has been delayed. On 22 July 2015, the European Securities and Markets Authority (ESMA) announced that it is still finalising
What does today’s Belgian budget and tax-shift agreement mean?
What does today’s Belgian budget and tax-shift agreement mean? Today, the Belgian government announced various tax measures of particular interest for the real estate and financial sectors. The new measures include a new regime for institutional real estate funds, an increase of the normal withholding tax rate and taxation of short-term capital gains on listed
Dutch Supreme Court rules that Luxembourg SICAV is not entitled to a refund of Dutch dividend withholding tax
On 10 July 2015, the Dutch Supreme Court ruled that a Luxembourg SICAV is not comparable to a Dutch Fiscal Investment Institution (“FBI”). Therefore, the SICAV is not entitled to a refund of Dutch dividend withholding tax (“DWT”). Facts and circumstances In 2007 and 2008 the SICAV received Dutch portfolio dividends on which Dutch DWT
Draft Program Act now includes the Financial Sector Contribution to State revenue
On 30 June 2015, the Finance and Budget Commission approved a draft Program Act now including the so-called Financial Sector Contribution (FSC) by which banks and insurance companies should bear an additional contribution to State revenue (Doc. Parl. 1125/010). As a reminder, as part of the Belgian government agreement, it was decided that banks and
Q&A on financial planning published by FSMA
The FSMA has published a Q&A on financial planning in Belgium. Since 1 November 2014 and the entry into force of the law of 25 April 2014 on the status and supervision of independent financial planners and on the offering of financial planning services by regulated institutions (published in the Belgian State Gazette of 27
Transversal Royal Decree postponed
On 10 June 2015, the Royal Decree of 2 June 2015 (Royal Decree 2015) amending the Royal Decree of 25 April 2014 imposing certain information requirements for financial products offerings to retail clients (Transversal Royal Decree) was published in the Belgian Official Gazette. The main objective of the Royal Decree 2015 is to postpone the
Helping in the fight against tax evasion – draft bill approved
The Council of Ministers has approved a draft bill that enables Belgian Financial Institutions to automatically provide financial account information of foreign clients to the Federal Public Service Finance. The latter will act as an intermediary and will, in this regard, exchange this information across borders with the competent authorities where foreign clients are residents.
