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.
Capital gains on shares of investment companies
Capital gains on shares of investment companies: capitalising shares v. distributing shares (SICAV-RDT/DBI-BEVEK) Judgment of the Constitutional Court of 28 May 2015 (ref. 75/2015) At issue The question relating to Articles 192 and 203 of the Income Tax Code of 1992 (ITC 92) raised by the Court of First Instance of Brussels. The question reads
Swiss Federal Supreme Court rules in Withholding Tax Case for Danish banks
The Swiss Federal Supreme Court has delivered two judgements regarding Swiss withholding tax refund cases for two Danish banks involved in derivative transactions over the dividend ex-date with Swiss equities. In both cases, the Swiss Federal Supreme Court ruled in favour of the Federal Tax Authority (FTA) and overruled the previous decisions taken by the
