Investment deduction for assessment year 2020 published
On 11 April 2019, the new percentages for the investment deduction, applicable for assessment year 2020 (financial years ending between 31 December 2019 and 30 December 2020, both dates inclusive), were published in the Belgian Official Gazette. In order to apply for the investment deduction, the taxpayer needs to comply with certain conditions and formalities.
Minimum director fee: penalty of 5% removed from Income Tax Code
The Corporate Income Tax Reform Act had introduced a distinct taxation of 5% due by each company (large or small) that does not grant a minimum director fee of EUR 45,000 (EUR 75,000 for a group of affiliated companies). The tax was due on the difference between the highest compensation actually paid and the required
New information (FAQ) on the Belgian UBO-register
We already informed you about the introduction and extension of the deadline of the register of Ultimate Beneficial Owners (UBO-register). On 2 April 2019 the Federal Public Service Finance (FPSF) published an updated version of the document with frequently asked documents (FAQ). The updated FAQ clarifies, amongst others: Who to register as UBO in
Temporary corporate tax exemption for social passive: to be spread over 5 years
On 22 March 2019, the Act modifying the specific corporate tax exemption for social passive was published: the exemption now needs to be spread over 5 years. Recap As a short recap, article 67quater Belgian Income Tax Code 1992 (introduced by the Act of 26 December 2013) allows Belgian companies and Belgian establishments to exempt
Advance tax payments – new procedure and new bank account number
Unless a company pays its Belgian corporate income taxes due by means of timely advance tax payments during the financial year concerned, a surcharge is due on the final amount of Belgian corporate income tax due upon assessment. If advance payments are made, credits – which can be offset against the surcharge – are granted
VAT annual sales listing for 2018 transactions
Belgium requires all VAT payers to file an annual return with details about all domestic sales made in Belgium during the previous calendar year. This return, commonly referred to as the annual sales listing, includes detailed information about the sales made to VAT registered customers in Belgium. The deadline for filing this return is rapidly
Circular 2019/C/14 – Addendum to the circular 2017/C/56 containing additional guidance on the transfer pricing documentation penalty regime
On 8 February 2019, an addendum to the circular was issued containing additional guidance on the transfer pricing documentation penalty regime. General All companies and permanent establishments must prepare transfer pricing documentation unless they meet certain thresholds for exemption from filing documentation. Failing to file (in due time) the transfer pricing documentation (i.e. country-by-country report
Registration to the UBO register: extension of the deadline until 30 September
We already informed you about the introduction in Belgium of a register regarding the Ultimate Beneficial Owners (UBO’s) of legal entities. Initially, the information on the UBO’s needed to be registered by 30 November 2018. However, the deadline had been extended till 31 March 2019 by the Federal Public Service Finance (FPSF) taken into account
