Year-end approaching, don’t forget the last advance tax payment on your checklist
As year-end is approaching, Belgian corporate tax payers are preparing to close their financial year and are preparing the start of a new one. If your financial year is ending on 31 December 2019, it may be worthwhile to take into account the last due date for making an advance tax payment (i.e. 20 December
Draft bill involving significant changes on 30% EBITDA rule
On 26 November 2019, a draft bill containing various tax provisions was submitted to the Belgian Chamber of Representatives. Several upcoming changes are related to the interest deductibility limitation (i.e. 30% EBITDA rule) which was introduced in the 2017 corporate income tax reform and applicable as of 1 January 2019 (assessment year 2020). If enacted,
Constitutional Court Annuls the Tax on Securities Accounts
By law of 7 February 2018, the legislator introduced a tax on securities accounts (“taks op de effectenrekeningen”/“taxe sur les comptes-titres”). Many petitions to annul this law have been introduced before the Constitutional Court. In its judgement dd. 17 October 2019, the Constitutional Court annulled the law (and thus the tax), but decided to maintain
Circular Letter regarding the “grandfathering” provision included in 30% EBITDA rule
On 11 September 2019, the Belgian tax administration published a Circular Letter regarding the grandfathering provision that is included in the recently introduced interest deductibility limitation (i.e. 30% EBITDA rule). The 30% EBITDA rule includes a grandfathering provision for loans that have been issued before 17 June 2016 and that have not been “fundamentally modified”
The due date for filing both the Belgian (non-resident) corporate income tax return and the local form ‘275 LF’ for assessment year 2019 is approaching: are you in control?
Both the Belgian (non-resident) corporate income tax return and the transfer pricing local form ‘275 LF’ are due soon. Below is an overview of the filing requirements. Corporate income tax return Belgian companies (and non-resident entities) have the yearly obligation to file a Belgian (non-resident) corporate income tax return by the statutory deadline. Filing a complete,
Corrections to previously filed CbC Reports
On July 30th 2019, the Belgian Tax Authorities (“BTA”) communicated that the portal MyMinfin has been opened for the submission of corrections to Country-by-Country Reports (“CbCR”) filed in previous years. In addition, the BTA have published practical guidelines and examples for reporting entities on how to report these corrections to previously filed CbCR. These guidelines
Frequently Asked Questions on Belgian UBO register: new update
In previous news flashes we already informed you about the implementation of the UBO register, the extension of the first registration deadline and a first update of the frequently asked questions. After a first update on 2 April 2019, the Federal Public Service Finance (FPSF) published a new version of the frequently asked questions (FAQ) on
Filing of your statutory financial statements – due date of 31 July 2019 is approaching!
Statutory financial statements As you are probably aware, Belgian companies should deposit their statutory financial statements annually with the National Bank of Belgium. Filing should be done within 30 days after the financial statements have been approved by the Annual General Meeting of Shareholders and certainly not later than 7 months after the end of
