December 20 OECD/G20 Pillar 2 GloBE Model rules
A ten minutes tour of: The introduction of a global minimum taxation of 15% Some salient new points, such as inclusion of deferred taxes to calculate jurisdictional ETR The importance of modeling to understand the impact The ambitious timeline for implementation Earlier today, the OECD published the long awaited Global Anti-Base Erosion Model Rules (Pillar
Update COVID-19 and cross-border employment: Agreement with the Netherlands extended until 31 March 2022
In our newsflash of 10 December 2021, we referred to the extension of the mutual agreements between Belgium and France / Luxembourg until 31 March 2022. It was stated that the mutual agreement between Belgium and the Netherlands would likely be extended as well. And indeed, recently, the Belgian and the Dutch tax authorities decided
Update COVID-19 and cross-border employment: Agreements with France and Luxembourg: extended until 31 March 2022
With reference to our previous newsflashes regarding this topic, the idea behind the COVID-19 agreements lies in the fiction that salaried workers who work from home due to travel restrictions remain taxable in the state where they previously exercised their professional activity before the outbreak of the corona crisis. However, this tax fiction strictly applies
Changes to the Belgian expat tax regime – draft law filed in parliament
On December 1st, the Belgian government formally filed draft legislation in parliament regarding i.a. changes to the Belgian expat tax regime (see our heads-up article published on 15 October). The draft legislation is very likely up for formal vote by the end of this month. The essential characteristics of the draft legislation can be summarised
Public Country-by-Country Reporting Directive enters into force soon
With our newsflash of 16 November 2021, we informed you of the formal approval of the public country-by-country reporting (PCbCR) directive on 11 November 2021. The directive is published in the Official Journal of the EU on 1 December 2021; it enters into force on the 20th day after its publication. Member states must introduce
Cadastral income for properties abroad – Final call
As mentioned in our Newsflash of 18th March 2021, following the decision of the European Court of Justice, the Belgian tax authorities have sent a questionnaire to many taxpayers, in order to gather specific information which will allow them to attribute a value/cadastral income to foreign properties. In case the properties abroad were owned before 1 January
Time to verify your night – and shift labour: check your shift premium and the calculation of the ⅓ norm!
Strict case law regarding the shift premium and more strict FAQ regarding ⅓ norm urges for action Night – and shift labour incentive Companies with employees performing shift or night work can receive a partial exemption from the payment of wage withholding taxes. The ‘discount’ is quite substantial: as an employer you can save up
Public Country-by-Country Reporting adopted
Introduction On 11 November 2021, the European Parliament adopted the Directive on public country-by-country reporting (PCbCR). The adoption of this directive concludes the procedure (see earlier newsflash) on the introduction of specific European transparency rules and requires certain European or non-European multinational groups or standalone undertakings to publicly disclose certain financial data. Content of the
