Is your company ready for the upcoming compliance deadline?
Statutory financial statements As you probably are aware, Belgian companies should annually deposit their statutory financial statements with the National Bank of Belgium. Filing should be done within 30 days after the financial accounts have been approved by the Annual General Meeting of Shareholders and no later than 7 months after the end of the
Tax Bites Podcast – What’s going on at the UN? The draft Terms of Reference for negotiating a Framework Convention on International Tax Cooperation
In this episode, we share our first impressions on the ‘Zero Draft’ Terms of Reference (ToR) for a UN Framework Convention on International Tax Cooperation released by the United Nations (UN) on 7 June 2024. Furthermore, we provide a brief overview of other important international and European tax developments. Tune in to get our first take on
Royal Decree on Public Country by Country Reporting published
On 6 June 2024, the Royal Decree on public country by country reporting (PCbCR) was published in the Belgian official gazette (See also our earlier messages on the introduction of public country by country reporting in Belgium of 4 June 2021 and 17 November 2023). This Royal Decree modifies the Royal Decree of 29 April
Belgian Tax Authorities publish additional (and much welcomed) guidelines in view of the Co-Operative Tax Compliance Programme and details on what they consider to be a “mature” Tax Control Framework (TCF)?
Flashback to 2018 – What is the CTCP? With its launch in 2018 and with the ultimate goal of (i) achieving faster legal certainty for companies and (ii) improving compliance with tax obligations, the Belgian Co-operative Tax Compliance Programme (CTCP) introduced a mindshift, from a reactive tax audit modus to a collaborative, proactive approach based
The first Belgian Pillar 2 compliance milestone is out: notification at the Crossroads Bank of Enterprises (KBO/BCE)
Last year, Belgium officially enforced the Pillar 2 rules introducing a minimum tax for multinational companies and large domestic groups further to the publication of the law in the Belgian Official Gazette (Belgisch Staatsblad / Moniteur Belge) in December 2023. To comply with the requirements, groups in scope of the rules have to register at
External financing is increasingly more difficult to obtain. How does it impact transfer pricing policies?
According to the latest update of the quarterly bank lending survey of the European Central Bank (“ECB”), the loan application rejection rate within the Eurosystem continued to increase during the first quarter of 2024, albeit at a slower rate than the previous quarter. In addition, Euro area banks reported a small further net tightening of
New reporting obligation for tenants to declare certain rent payments: risk of non-deductibility in case of non-compliance!
Who is in scope? This new reporting obligation applies in principle to all legal entities and natural persons who are required to file an income tax return in Belgium. It does not matter whether this concerns personal income tax, corporate income tax, legal entity tax or non-resident tax. However, the reporting obligation is only applicable
Belgian draft law amending the investment deduction and innovation income deduction regime
On 29 February 2024, a draft law was submitted covering (amongst others) the investment deduction regime. The proposed changes to the investment deduction included in the preliminary draft law have largely been retained in the draft law submitted by the Belgian government to parliament (see also our newsflash of 14 November 2023). The following items
