Transactions and Mergers & Acquisitions

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.  

Jan Muyldermans

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.  

Lost in Transactions – Your one-stop guide for everything you need to know about BEPS and M&A

We are pleased to announce that M&A Tax & Legal Services just finalised a publication which will guide you in everything you need to know about BEPS and M&A. ‘Lost in transactions’ is a practical guide to managing M&A deals in today’s global, digital world. Please find more information and the PDF version of the […]

hughes-lamon-author

We are pleased to announce that M&A Tax & Legal Services just finalised a publication which will guide you in everything you need to know about BEPS and M&A. ‘Lost in transactions’ is a practical guide to managing M&A deals in today’s global, digital world. Please find more information and the PDF version of the […]

PwC’s dialogue with Private Equity investors reveals growing interest in responsible investment

There is a growing need for General Partners (GPs) to demonstrate responsible investment behaviour and manage their exposure to environmental, social and governance (‘ESG’) risks in their engagement with Limited Partners (LPs). This trend is also based on the belief that addressing ESG factors will protect value by either improving returns or reducing risk. PwC’s […]

Dirk_Verheyen

There is a growing need for General Partners (GPs) to demonstrate responsible investment behaviour and manage their exposure to environmental, social and governance (‘ESG’) risks in their engagement with Limited Partners (LPs). This trend is also based on the belief that addressing ESG factors will protect value by either improving returns or reducing risk. PwC’s […]

The Rulings Commission publishes ruling request templates

The Belgian Rulings Commission has recently published ruling request templates. These templates have been prepared in an effort (i) to facilitate access to tax rulings and (ii) for transparency purposes. Ruling request templates have been made available in Dutch and in French for the following relevant transactions: Mergers, Partial demergers, Contribution of a line of […]

hughes-lamon-author

The Belgian Rulings Commission has recently published ruling request templates. These templates have been prepared in an effort (i) to facilitate access to tax rulings and (ii) for transparency purposes. Ruling request templates have been made available in Dutch and in French for the following relevant transactions: Mergers, Partial demergers, Contribution of a line of […]

Have you considered the VAT impact when dealing with Transactions?

In today’s tax world, considering VAT in a timely manner is key to limiting the negative impact it can have on your transaction budget. VAT on transactions can lead to either VAT savings or a VAT burden depending on various factors. Recent developments in EUCJ case law that allows VAT deduction for active management holding […]

christoph-zenner-author

In today’s tax world, considering VAT in a timely manner is key to limiting the negative impact it can have on your transaction budget. VAT on transactions can lead to either VAT savings or a VAT burden depending on various factors. Recent developments in EUCJ case law that allows VAT deduction for active management holding […]

Fund structuring – Impact of BEPS

One of the most important decision-making factors that an asset manager (General Partner – GP) considers in setting up a fund is to ensure that the investment structure is tax neutral for its investor (Limiter Partners – LPs) and provides for the most reliable regulatory framework. The complexity of setting up international investment vehicles pooling […]

hughes-lamon-author

One of the most important decision-making factors that an asset manager (General Partner – GP) considers in setting up a fund is to ensure that the investment structure is tax neutral for its investor (Limiter Partners – LPs) and provides for the most reliable regulatory framework. The complexity of setting up international investment vehicles pooling […]

Management exit considerations: capital gains tax treatment

Retaining and incentivising the management of portfolio companies is key for private equity firms. Managers will thus invest alongside with investors and enter into some incentive arrangements. At a future exit, they may then expect to walk away from their investment with a significant return. Belgian managers may invest through a personal holding company or […]

hughes-lamon-author

Retaining and incentivising the management of portfolio companies is key for private equity firms. Managers will thus invest alongside with investors and enter into some incentive arrangements. At a future exit, they may then expect to walk away from their investment with a significant return. Belgian managers may invest through a personal holding company or […]

Brazil: Changes to calculation basis of net equity payments and to withholding tax on interest

Here’s a link to a Tax Newsalert with respect to Brazil Taxation you may find very interesting – link This ITS Newsalert reports on Provisional Measure 694/2015, which changes the calculation basis of, and the withholding tax rates applicable to interest on, net equity payments in Brazil. Should you have any further questions on this topic […]

Jan Muyldermans

Here’s a link to a Tax Newsalert with respect to Brazil Taxation you may find very interesting – link This ITS Newsalert reports on Provisional Measure 694/2015, which changes the calculation basis of, and the withholding tax rates applicable to interest on, net equity payments in Brazil. Should you have any further questions on this topic […]

Allocation of acquisition debt: economic rationale is key!

In today’s tax world, having a strong economic rationale to support an entity’s leverage is key. In our recent experience, the tax authorities look at a company’s gearing in 3 ways: Business purpose test: what is the motivation for each entity taking a loan? TP principles: Is the interest rate at arm’s length considering the […]

In today’s tax world, having a strong economic rationale to support an entity’s leverage is key. In our recent experience, the tax authorities look at a company’s gearing in 3 ways: Business purpose test: what is the motivation for each entity taking a loan? TP principles: Is the interest rate at arm’s length considering the […]

Is your upper-tier structure BEPS-proof?

The OECD BEPS Action Plan and parallel developments impact each layer of a multinational structure, including the upper tier. Specifically, having insufficient relevant substance at upper tier level could cause your return on investment to decrease significantly (by up to 25% based on the current Belgian withholding tax rate). On top, we expect that the […]

hughes-lamon-author

The OECD BEPS Action Plan and parallel developments impact each layer of a multinational structure, including the upper tier. Specifically, having insufficient relevant substance at upper tier level could cause your return on investment to decrease significantly (by up to 25% based on the current Belgian withholding tax rate). On top, we expect that the […]

Impact of BEPS on M&A – Why should we care?

The OECD’s Base Erosion and Profit Shifting project (BEPS) project is the answer of the G20 to the current public debate around the use of privileged regimes. It is meant to define rules for a fairer and more equitable system of corporate income taxation. From an M&A perspective, it adds a layer of complexity and […]

hughes-lamon-author

The OECD’s Base Erosion and Profit Shifting project (BEPS) project is the answer of the G20 to the current public debate around the use of privileged regimes. It is meant to define rules for a fairer and more equitable system of corporate income taxation. From an M&A perspective, it adds a layer of complexity and […]

Payments to Cyprus and Luxembourg: subject to new reporting obligation, screen your existing structures

Payments by Belgian companies of over EUR 100K (in total) to recipients in Luxembourg and Cyprus must now be reported individually in a specific form to the tax authorities. If not, they risk being non-deductible for tax purposes. Besides the additional reporting effort that this entails, it also sheds light on those payments which are […]

Jan Muyldermans

Payments by Belgian companies of over EUR 100K (in total) to recipients in Luxembourg and Cyprus must now be reported individually in a specific form to the tax authorities. If not, they risk being non-deductible for tax purposes. Besides the additional reporting effort that this entails, it also sheds light on those payments which are […]

Advice Belgian ruling commission on use of GAAR in reorganizations

Since the introduction of the new general anti abuse (section 344 Belgian Income Tax Code) provision in Belgium, there was uncertainty on how the latter interacts with the existing specific anti-abuse provision in place for reorganizations (section 183bis Belgian Income Tax Code) Recently the ruling commission issued a new advice with their view on what to […]

axel-smits-author

Since the introduction of the new general anti abuse (section 344 Belgian Income Tax Code) provision in Belgium, there was uncertainty on how the latter interacts with the existing specific anti-abuse provision in place for reorganizations (section 183bis Belgian Income Tax Code) Recently the ruling commission issued a new advice with their view on what to […]