Clarification on CBAM Reporting Requirements
CBAM (Important Update): Clarification on Reporting Requirements On 20 October 2023, the Federation of Belgian enterprises (VBO/FEB) hosted a CBAM information session with the participation of the European Commission (DG TAXUD) and two Federal Public Services (FOD/SPF), Finances and Public Health. During the session, PwC raised an important question regarding the definition of the Reporting
The General Court considers the Belgian Excess Profits Ruling to be unlawful State Aid
On 20 September 2023, the General Court of the European Union (GCEU) ruled for the second time in the case of the Belgian Excess Profits Ruling (Belgian EPR) (Judgement of the General Court, 20 September 2023, in case T-131/16 RENV). Contrary to its first decision in 2019 on EPR as a “scheme”, it now confirmed
Tax Bites Podcast – The new BEFIT proposal and International Tax Webinar Trilogue
The new BEFIT proposal and International Tax Webinar Trilogue On 12 September the European Commission published its long anticipated BEFIT proposal together with a proposal for a transfer pricing directive. In this podcast we discuss the content of these proposals and reflect on the impact for business. In line with this topic, you can still
Tax Bites Podcast: Amount B is back – what does it mean?
Amount B is back – what does it mean? In this episode the speakers will give an update on the current status and content of Amount B, what it means for businesses, next steps to consider along with some crystal ball predictions on the likelihood and breadth of the impact. About the speakers: Gilles Franssens
CBAM – Implementing act approved and guidance released
On 17 August 2023, the European Commission adopted the Implementing Regulation for the Carbon Border Adjustment Mechanism (CBAM). The approved Implementing Regulation and accompanying guidance: Confirms the reporting obligations for the CBAM Transitional Period, which commences on 1 October 2023. Furthermore, it confirms that the CBAM reporting requirements and methodology will provide some flexibility when
Interest paid to qualifying foreign EEA AIFs may now benefit from the Belgian WHT exemption
On 26 July, a new Royal Decree amending the Royal Decree implementing the Belgian Income tax code (RD/BITC) was published. The Decree includes various amendments, but one of the main updates was the extension of the withholding tax (WHT) exemption to Belgian sourced interest paid to foreign institutional Alternative Investment Funds (AIF). In principle, interest
Mid-summer tax update
As we reach mid-summer, it’s time to do a short wrap-up of some of the recent tax developments to keep you up to date in this ever-changing tax landscape. In this update we will cover the following topics: Council of Ministers accept the Belgian implementation of the Public CbCR Directive Belgian Parliament considers bill to
Tax Bites Podcast – Future-proofing your statutory reporting function (Part 3)
Future-proofing your statutory reporting function: how to accommodate compliant local statutory ledgers in your Business ERP? In this third episode of our mini series we look at the ideal end state – dual ledger accounting. How do you ensure you meet the local statutory and tax requirements while reaping the benefits of centralization and standardization
