The European Union will launch a new EU customs pre-arrival security and safety program which will be handled via the so-called Import Control System 2 (ICS2), a large-scale information system. The new program is essential for managing entry security and safety border controls. The program will help to establish an integrated EU approach to reinforce
During the current Brexit transition period, goods can still be shipped tariff free and without import and export formalities from the EU mainland to the UK and vice versa. After the transition period, scheduled for 1 January 2021, EU – UK trade will be subject to import and export formalities and the UK will set
Due to the COVID-19 pandemic and by way of administrative tolerance, the Belgian government has granted a 6-month delay to fulfil the first reporting obligations under the DAC 6 legislation. The decision follows a European proposal for an amending council directive in this respect. In short, DAC 6 provides for the obligation to report certain
On 16 May 2020, after the first wave of supportive measures to mitigate the consequences of the COVID-19 crisis, the Council of Ministers adopted a draft law including new tax recovery measures. These provisions have as main aim to avoid a series of bankruptcies and to help companies to rebuild their liquidity and solvency positions.
Filing your Belgian corporate income tax return and local form – general due date of 24 September 2020
Have you considered the impact of the new 30% EBITDA-rule? Belgian companies (and non-resident companies with a Belgian establishment) have the yearly obligation to file a Belgian (non-resident) corporate income tax return within the statutory deadline. In principle -in case of a financial year that ended per 31 December 2019- this tax return (linked to
EBITDA Interest Limitation Rule: New Circular Letter avoids unintended consequences when obtaining payment holidays
On 5 May 2020, the Belgian tax administration published its Circular Letter 2020/C/62 on specific payment holidays negotiated in the context of the COVID-19 crisis. More in particular, this circular accepts that certain loans will not lose their “grandfathered” status in case specific modifications are negotiated to loan agreements so to bridge temporary payment difficulties.
Over the past few weeks, the Belgian government has taken many measures to reduce the impact of the COVID-19 crisis. Even though many filing and payment delays have been announced, no communication has (currently) been made as regards the filing due date of the fee forms 281.50. Consequently, as per today, fee forms 281.50 are
COVID-19 presents significant challenges to people and organisations around the globe and the disruption continues to evolve. We know that your business is facing several potentially significant tax challenges to which you need to respond rapidly. To help you cut through the complexity, PwC’s team of specialists collaborated to create a resource for you to