Companies with a year-end closing on 31 December 2017 can still make an advance tax payment for the fourth quarter of the year before 20 December 2017 to avoid a tax surcharge. For assessment year 2018, a global surcharge of 2,25% will be applied to the total amount of tax due (minus certain tax credits –
Today the Federal government has published a press release regarding the agreement on the concrete implementation of the important corporate tax reform announced earlier in July 2017. The Act has been sent to the Council of State for advice and is expected to be voted by Parliament in the course of December 2017. The great achievement of this
On 11 August 2017, an administrative circular letter was issued with respect to the Belgian exit taxation rules. Belgium amended, via the Act of 1 December 2016, the Belgian tax provisions on exit taxation largely in line with the Anti-Tax Avoidance Directive (ATAD) requirements on exit taxation. More precisely, the Act introduced amongst others the option
Insights into the EU proposal on mandatory disclosure of tax information by taxpayers and intermediaries
The European Commission, on 21 June 2017, published a draft Directive that would impose mandatory reporting by taxpayers and intermediaries to the tax administrations of EU Member States for various cross-border transactions and arrangements, and the automatic exchange of this information among Member States (see previous coverage). Taxpayers and intermediaries (such as consultants, banks, and
On 26 July 2017, the federal government reached an agreement on an important tax, economic and social reform package. A significant gradual reduction in the corporate income tax rate to 25% in 2020 and fiscal consolidation are key components of the package. The agreement preserves the notional interest deduction. The tax reform is built around
Remark: The following announced measures will have to be formalised in draft legislation which should only be available as from September/October. Only then will full details be known. On 26 July 2017, the Federal government reached an agreement on an important corporate tax reform, significantly reducing the corporate tax rate. More details will follow below.