Publication of model tax returns for assessment year 2014
Model tax returns for assessment year 2014 now available In the Belgian Official Gazette of 2 May 2014, the model tax returns for assessment year 2014 for resident companies, for resident legal entities and for non-residents(companies and legal entities) have been published.
New daily lump-sum allowances for foreign business trips
An employer/company can pay daily lump-sum allowances for foreign business travel to employees or company directors in order to reimburse certain expenses. The lump-sum reimbursements can be determined on the basis of the list of allowances paid by the Federal Public Department of Foreign Affairs to its posted agents.New lists have been published to determine
Tax return deadline for income year 2013 (assessment year 2014) – Individuals
The tax return deadlines for assessment year 2014 (income 2013) have been confirmed by the Belgian tax authorities.
Tax return deadline for income year 2013 (assessment year 2014) – Corporates, legal / non-resident entities
The Belgian tax authority has communicated the deadlines for the different tax returns assessment year 2014 for corporates, legal entities and non-resident entities. An overview of these deadlines can be found below. For tax residents and non-residents with an accounting year ending on 31 December 2013: Corporate income tax return Belgian tax residents 30 September 2014 Income
Parliamentary question clarifies whether (for direct tax purposes) “small tools, small equipment and stationary” should be considered as an investment or an immediate expense.
Recently, the minister of Finance answered a Parliamentary question regarding “small equipment, small tools and stationary”, i.e. whether for direct tax purposes, “small equipment, small tools and stationary” should not be considered as an investment and can therefore be directly expensed? According to the Minister of Finance, and based on accounting law, the company should define the valuation rules in
BASC issues draft advice on the Belgian GAAP treatment of the Fairness Tax
The Belgian Accounting Standards Commission (BASC) was asked to provide guidance with respect to the accounting treatment of the Fairness Tax. The Fairness Tax is a separate tax of 5.15% (5% increased by 3% crisis surtax). This separate tax applies to a Belgian company (non SME) if: (i) the company has distributed dividends with respect
Reporting obligation foreign bank accounts extended
Last week the Belgian parliament voted an amendment to the Belgian Income Tax Code with respect to the reporting obligation of foreign bank accounts by Belgian individuals at the central contact point (“centraal aanspreekpunt” in Dutch/”point de contact central” in French) of the Belgian National Bank. As from the first of November 2014 the Belgian
Reporting requirement legal constructions – Royal Decree published
On 2 April 2014, a Royal Decree was published, listing up the legal constructions which are in scope of the recently introduced reporting requirement. The Act of Miscellaneous provisions of 30 July 2013 introduced a reporting obligation for legal constructions (trusts, foundations, partnerships, certain low-taxed entities, etc.) set-up by private persons. According to the Act,
