Parliamentary Committee approves corona tax measures
Next to the impact on human health and lives, the COVID-19 pandemic also has a worldwide economic impact. Businesses are being impacted, the economy slows down and families have less purchasing power. In Belgium, the latter is compensated to a certain extent by temporary employment due to force majeure. This week, various measures have been
COVID-19 and cross-border employment: Belgium reaches agreement on “force majeure” tolerance for cross-border workers with the Netherlands
International travel restrictions and COVID-19 lock down measures, imposed by governments during the coronacrisis in order to “flatten the curve”, are pushing cross-border workers into a continuous home working scenario for many weeks now. Working days abroad are no longer an option. As stated by the OECD guidance, exceptional circumstances call for an exceptional level
EBITDA Interest Limitation Rule: New Circular Letter avoids unintended consequences when obtaining payment holidays
On 5 May 2020, the Belgian tax administration published its Circular Letter 2020/C/62 on specific payment holidays negotiated in the context of the COVID-19 crisis. More in particular, this circular accepts that certain loans will not lose their “grandfathered” status in case specific modifications are negotiated to loan agreements so to bridge temporary payment difficulties.
Executive pay landscape: Implementation of the Revised Shareholders’ Rights Directive (SRD II) into Belgian law for Belgian quoted companies
On May 6th, the Official Gazette has published the law on implementing the SRD II – Directive (EU) 2017/828. Part of the Directive will be implemented by changing the newly introduced Belgian Code on Companies and Associations (BCCA). The aim of SRD II is to positively influence the involvement of long-term shareholders and increase transparency
COVID-19 and cross-border employment: is Belgium heading for a “force majeure” approach with its neighbouring countries?
In our newsflash of 15 April 2020, we were pleased to inform you that the Netherlands and Germany came to a mutual agreement regarding a “force majeure” tolerance for cross-border employment situations that are impacted by the coronavirus (COVID-19) pandemic. The Dutch-German agreement certainly embodies the recent OECD recommendations of 3 April 2020 (see our
Impact of COVID-19 on your globally mobile employees
Currently, most companies have employees who are business travelers or who work (and live) in a different country due to assignments, intracompany moves, projects, etc. The continued spread of the Coronavirus (COVID-19) confronts the Global Mobility function of organisations with multiple complexities of managing these employees. As safety and welfare of employees is the top
COVID-19: the Netherlands and Germany reach agreement on “force majeure” tolerance for cross-border employment
The Netherlands and Germany came to the agreement that the coronavirus (‘COVID-19’) pandemic is a “situation of force majeure” and that the measures taken in response to the pandemic can lead to substantial uncertainty with respect to the tax position of cross-border workers. In this context, both countries have reached a mutual agreement (effective as from 11
COVID-19: a multi country overview of supportive measures – update
COVID-19 presents significant challenges to people and organisations around the globe and the disruption continues to evolve. We know that your business is facing several potentially significant tax challenges to which you need to respond rapidly. To help you cut through the complexity, PwC’s team of specialists collaborated to create a resource for you to
