Belgian Transfer Pricing documentation requirements – FAQ published
The Belgian Tax Authorities have published a long awaited list of Frequently Asked Questions (FAQ) on their webpage dedicated to the Belgian Transfer Pricing documentation requirements. The FAQs are available in Dutch and French. This publication is quite important as it provides further guidance on how to deal with the Belgian transfer pricing documentation requirements
Investment deduction percentages for assessment year 2019 published
On 27 April 2018, the new percentages for investment deduction, applicable to assessment year 2019, were published in the Belgian Official Gazette. In order to apply the investment deduction, the taxpayer needs to comply with certain conditions and formalities. Here is a summary of the percentages for assessment year 2019: 1. One-shot investment deduction Private individuals:
Belgian Tax Authorities announce some of their focus areas for 2018 tax audits
The Belgian Tax Authorities have recently announced some of their focus areas for 2018 for tax audits. This early warning allows both individual taxpayers and enterprises to ensure compliance with their Belgian tax obligations. Individuals and enterprises that have not filed tax returns will in any event be selected. Enterprises can expect to face more
Local File for assessment year 2018 – Don’t wait until the due date is near!
In line with the three-tier documentation approach as provided under the OECD’s BEPS Action Point 13, Belgium has enacted specific transfer pricing (TP) documentation requirements into its tax law. This alert focuses on the Local File, which specifically requires reporting on intercompany transactions. Given the complexity of the matter, we recommend not waiting until the
Want to avoid surcharges? Making an appropriate amount of advance tax payment for Q 1 will help!
Companies/branches can make a first advance tax payment for the ongoing financial year by 10 April 2018 (in case of FY per 31/12). For assessment year 2019, the global surcharge has increased to 6.75% (compared to 2.25% for assessment year 2018). This surcharge will always be due. The prior year tolerance – relating to the
Belgian Constitutional Court annuls fairness tax
In its judgement of 1 March 2018, the Belgian Constitutional Court ruled that the fairness tax is unconstitutional. Hence, it annulled the fairness tax. This decision follows a series of actions on both the national and European level (for our previous coverage on this subject, click here). The annulment does not have a retro-active effect, except in
Upcoming due date for the electronic filing of the Master file and the Country-by-country notification: 31 March 2018
For the first year of filing of the new transfer pricing documentation, the Belgian tax authorities have granted an administrative extension for the Master file and the Country-by-country notification till the end of March. What? A Belgian entity of a multinational group exceeding at least one of the following criteria needs to submit a Master
Belgian corporate tax reform (substantively) enacted
On 22 December 2017, the Belgian Parliament has approved the Belgian tax reform bill. This bill has been published in the Belgian Official Gazette on 29 December 2017 and was signed by the Belgian King on 25 December 2017. Consequently, the Belgian tax reform has been substantively enacted for IFRS (IAS 12) on 22 December 2017
