Law implementing recovery procedure with regard to the Belgian excess profit provision adopted
Belgium has adopted on 22 December 2016 the law covering the implementation of the European Commission (‘EC’) decision of 11 January 2016 (‘Decision’) with regard to the Belgian excess profit provision based on Article 185 §2 of Belgian Income Tax Code 1992 (‘BITC’). The law, which has been drafted in cooperation and with the approval
Publication of Royal Decree dated 9 November 2016 on Belgian specialised real estate investment funds
PwC is pleased to inform you that the Royal Decree dated 9 November 2016 on Belgian specialised real estate investment funds (better known as “fonds d’investissement immobilier spécialisé” or FIIS / “gespecialiseerd vastgoedbeleggingsfonds” or GVBF) has been published in the Belgian Official Gazette of today, 18 November 2016. As you know, this new investment vehicle
European Commission proposes Corporate Tax Package
On 25 October 2016, the European Commission (EC) adopted yet another comprehensive tax package which consists of four new draft EU Directives on: a Common Corporate Tax Base (CCTB Directive) a Common Consolidated Corporate Tax Base (CCCTB Directive) hybrid mismatches with third countries double taxation dispute resolution mechanisms in the EU (Dispute Resolution Directive) In
Update on the special tax system for foreign executives in Belgium
Recently, there have been rumours about possible changes to the special tax system for foreign executives in Belgium, creating some uncertainty around it. From the privileged contacts PwC has with the tax authorities, it appears there is no intention to change the special tax system as such but rather that the Finance Cabinet is open
Summary of what has changed during the summer: newly-adopted tax measures
This summer, the Parliament adopted a range of new tax measures (more details below). Other measures are currently under review at the Chamber or pending before the State Council. More details on the new tax measures are announced on our website: Tax reform in Belgium. Patent income deduction The Act of 3 August 2016 providing
Luxembourg proposes new tax measures
The Luxembourg Government introduced a bill on 26 July 2016, with proposed tax measures for corporations for the 2017 tax year. The proposed changes are in line with the announcements made by the Government earlier this year. Although the bill has not been finalised, multinational enterprises operating in Luxembourg should start considering how the proposed measures,
PwC’s Brexit monitor
The referendum result on Brexit has not only led to economic and political uncertainty within the UK, but also on mainland Europe. The final impact of Brexit is yet unknown, but will certainly weigh down on our economy, business activity and financial markets. You may find the following PwC Brexit Monitor on the subject matter interesting.
European Commission sets out next steps to boost tax transparency
On 5 July 2016, the European Commission (“Commission”) presented a Communication putting forward the priorities in their work towards a fairer, more transparent and more effective taxation system, together with a proposal to amend the Fourth Anti-Money Laundering Directive (“AMLD”). By means of these initiatives, the Commission wants to address the remaining gaps in the
