The Belgian Act of 3 August 2016 implemented a “new yearly tax on credit institutions replacing the existing yearly taxes, the limitations to the corporate income tax deductions and the financial stability contribution” under articles 201(10) and following of the Belgian Code of Various Duties and Taxes (below referred to as the “New Bank Tax”).
The Belgian Financial Services and Markets Authority adds crowdfunding to its communication on public offers that are exempted from the prospectus obligation
On 27 October 2016, the Belgian Financial Services and Markets Authority (FSMA) released its amended communication on public offers that are exempted from the obligation to publish a prospectus. Providers who wish to publicly offer a crowdfunding type of investment can also benefit from the statutory prospectus exemption. Statutory prospectus exemption for crowdfunding The applicable
The Belgian government has just announced that the scope of the Belgian Tax on Stock Exchange Transactions (‘TOB’ or ‘beurstaks’) would be extended in order to also cover ‘foreign platforms’. This announcement is part of the budget agreement presented last Sunday. As a recall, the application of the tax to foreign platforms has raised many
Earlier this week, the European Parliament’s Economic and Monetary Committee (ECON) had already unanimously rejected the European Commission’s investor protection proposals for consumers who buy packaged retail and insurance-based investment products (PRIIPs). The draft legislation consisted of regulatory technical standards (RTS) that accompany the PRIIPs Regulation and were developed by the Commission to provide greater
On 1 September 2016, the European Parliament’s Economic and Monetary Committee (ECON) unanimously rejected the European Commission’s investor protection proposals. The Commission’s proposal The European Commission had set out regulatory technical standards (RTS) to provide greater protection to consumers who are interested in investing in packaged retail and insurance-based investment products (PRIIPs). The RTS are
On 28 July the OECD released a discussion draft relating to deductions for interest in the banking and insurance sectors. This is part of the ongoing work for BEPS Action 4, Limiting Base Erosion Involving Interest Deductions and Other Financial Payments, which was released as a final report in October 2015. The discussion draft does