Belgium – Reduced dividend withholding tax rate of 1.6995% for minority corporate shareholders
The Belgian withholding tax act has been recently modified as a result of the European ‘Tate & Lyle’ case. The new Act limits the withholding tax on dividends distributed to foreign minority corporate shareholders by Belgian companies to 1.6995% instead of 27%, if certain conditions are met. In 2012, the European Court of Justice ruled that the Belgian dividend
Lists of tax havens revised
On 27 November 2015 the Council of Ministers revised the lists of tax havens that apply for the purposes of the so-called dividends-received deduction (‘DRD’) and the reporting obligation for payments (to tax havens). Two draft Royal Decrees have been approved that add or delete certain countries to or from the lists following changes to
Belgium: new agreement on Tax Shift
On 10 October 2015, the Belgian federal government reached a new agreement on the so-called “tax shift”. The tax shift is the shift from tax on labour to other taxes. The objectives of the tax shift are: To respect the budgetary engagements; A revival of the economy by creating more jobs; Reducing labour taxes to
Biztax filing deadline postponed to 7 October 2015
The Federal Public Department of Finance announced today that the deadline for filling tax returns via Biztax is postponed to 7 October 2015 due to IT problems. This extended deadline applies to tax returns that relate to: corporate income taxation (residents and non-residents); and legal entities income taxation. Initially, the deadline was set at 30 September 2015
Notional interest deduction rate for tax year 2017 is 1,131%
The Belgian NID rate for tax year 2017 (accounting years ending between 31 December 2016 and 30 December 2017, both dates included) would be 1,131%. For SMEs (Small and Medium-sized Enterprises), the NID rate would be 1,631% for tax year 2017. According to article 205quater, §2 of the Belgian Income Tax Code (“BITC”), the NID
Federal Public Department Finance launches new centres for ‘large companies’
‘Large companies’ The Belgian government has changed the way tax audits and dispute resolution for large companies are being organised. More in particular, 7 new centres for ‘large companies’ and a centre for ‘large companies management and specialised tax audits’ are set up as from 1 July 2015. 7 centres for ‘large companies’ The 7 new
Global Tax Accounting Services Newsletter (April – June 2015)
This release is designed to help multinationals stay aware of tax accounting and regulatory developments under US GAAP and IFRS, whilst providing some technical guidance on challenging tax accounting areas. The topics featured in this edition are amongst others: The Financial Accounting Standards Board’s exposure draft on tax accounting for stock compensation The status of
Non-Resident companies must file Belgian non-resident tax return electronically
As of assessment year 2015 the non-resident corporate income tax return must also be filed electronically in Belgium (BizTax application). The due date for the filing is set at 30 September 2015. No paper tax return form or other communication will be sent out to the non-resident companies this year to inform or remind them of
